Equity benchmark indices dipped during early hours on Wednesday with metal and auto stocks witnessing profit booking by traders. At 10:15 am, the BSE SandP Sensex was down by 297 points or 0.61 per cent at 48,051 while the Nifty 50 lowered by 91 points or 0.64 per cent to 14,148. Except for Nifty IT, all other sectoral indices at the National Stock Exchange were in the red with Nifty metal dipping by 1.4 per cent, private bank and realty by 1.3 per cent each and auto by 1 per cent. Among stocks, Hindalco cracked by 3 per cent to Rs 233.05 per share while Tata Steel and JSW Steel lost by 2.3 per cent each. Index heavyweight Reliance Industries shed 1.8 per cent to Rs 1,904.70 per share. IndusInd Bank lost by 1.7 per cent.