India, Feb. 12 -- Local equity benchmarks continued to trade slightly in red in morning session, with frontline gauges trading tad below their neutral lines owing to selling pressure in frontline counters. A level of pressure was seen on frontline stocks, especially Infosys and TCS. Traders remain concerned with a private report which stated that India's budgets show the government's been fixing unrealistic revenue targets, and in the process setting itself up for falling short of fiscal deficit goals. However, losses remain capped as the Prime Minister said that India is the fastest-growing large economy in the world and a recent report has estimated that it could be the second largest world economy by 2039.

On the global front, Asian ma...