Equities drifted lower in early trade on the Indian bourses this morning with weak global markets prompting investors to indulge in some selling at several blue chip counters from across various sectors.
A subdued close on Wall Street overnight, and the sluggish trend in Asian markets amid a slew of earnings reports appear to be weighing on sentiment to an extent.
The BSE benchmark Sensex, which declined to 18,660.26, is currently down 67.17 points or 0.36% at 18,691.46. The Nifty index of the National Stock Exchange is down 21 points or 0.36% at 5684.30.
Healthcare, oil, FMCG and information technology stocks are quite subdued. Shares from automobile, realty and bank stocks are trading higher. Metal, capitall goods and power stocks are mixed.
ITC, Sun Pharmaceutical Industries, Reliance Industries, Jindal Steel & Power, Bharti Airtel, Hero Motocorp, Wipro, HDFC, Dr Reddy's Laboratories and Cipla are trading lower by 0.7% - 1.2%.
Coal India, HDFC Bank, Tata Power, ONGC, Infosys and Hindalco are also trading weak.
Jaiprakash Associates is trading 1.8% down. Kotak Bank, Lupin, Reliance Infrastructure, Grasim Industries, Siemens, Power Grid Corporation and Ultratech Cement are also trading weak.
HCL Technologies, Cairn India, ACC, IDFC, Bank of Baroda, Axis Bnak, Ambuja Cements, DLF and Sesa Goa are trading in positive territory, gaining 0.4% - 1%.