The key domestic benchmark indices opened lower in the morning trading session tracking weak cues and negative trend across the Asian markets.
On the economy front, the Reserve Bank of India has scrapped bank guarantee instruments such as the Letter of Undertaking and Letter of Comfort following the recent PNB scam. On the corporate front, shares of Yes Bank acquired more than 17 per cent share in Fortis Healthcare. Among others, shares of IndusInd Bank will see some movement after the private lender said the Reserve Bank has approved the merger of Bharat Financial Inclusion Limited with the bank.
At 09:16 a.m, the Bombay Stock Exchange bellwether Sensex was at 33785.85 down by 70.93 points or by 0.21 per cent, while the NSE Nifty was at 10398.90 down by 28 points or by 0.27 per cent.
The top gainers of the BSE Sensex pack were NTPC Ltd. (Rs. 171.80,+1.42 per cent), IndusInd Bank Ltd. (Rs. 1740.00,+0.52 per cent), Larsen & Toubro Ltd. (Rs. 1306.00,+0.30 per cent), Tata Consultancy Services Ltd. (Rs. 2898.95,+0.22 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 183.50,+0.05 per cent), among others.
Meanwhile, ICICI Bank Ltd. (Rs. 291.10,-4.24 per cent), Tata Motors Ltd. (Rs. 194.70,-1.34 per cent), Coal India Ltd. (Rs. 290.90,-1.31 per cent), State Bank of India (Rs. 252.00,-1.14 per cent), Axis Bank Ltd. (Rs. 525.55,-0.99 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 490 shares traded, shares advanced were 202 while 251 shares declined and 37 were unchanged.
On the global front, Asian stocks were trading lower following the sacking of US Secretary of State Rex Tillerson, and amid talk of potential US tariffs against China., while the Wall Street closed lower in the previous trading session as the dismissal of U.S. Secretary of State Rex Tillerson and the possibility of additional U.S. import tariffs against China dragged down stocks across sectors.