At 9:18 AM, the Sensex was trading 82 points lower at 40,603 while the Nifty fell 19 points to 11,911. The market breadth is in favour of the advances with 1,003 stocks have opened with gains while 462 are declining on the NSE.
On the sectoral front, the Nifty metal index fell 0.8%, IT lost 0.4% Bank Nifty and Financial Services also shed in the early trade, however, FMCG and pharma rose at the opening.
IndusInd Bank, Nestle, L&T, Tata Motors, and NTPC were the top gainers while JSW Steel, Tech Mahindra, RIL, Tata Steel, and SBI led the losses.
IndusInd Bank gained on report that Kotak Mahindra Bank was exploring an all-stock takeover of the bank.