Equity benchmark indices were in the negative zone during early hours on Thursday as investors awaited the outcome of Reserve Bank of India's monetary policy committee meeting on key interest rates.
At 10:15 am, the BSE S & P Sensex was down 127 points at 39,957 while the Nifty 50 dipped 59 points to 11,963. Except FMCG, all sectoral indices at the National Stock Exchange were in the red.
Among stocks, GAIL saw a sharp decline of over 9 per cent. Indiabulls Housing Finance dropped nearly 5 per cent, Yes Bank 2.8 per cent and Grasim over 2 per cent.
However, Powergrid gained 1.7 per cent while Titan traded with a gain of over 1 per cent. The other gainers were Eicher Motors, Indian Oil and Hindustan Lever.
Meanwhile, Asian shares were mixed as investors feared a looming US trade war with Mexico which could further depress global growth. Japanese and Chinese shares dipped while they were flat in Hong Kong, a day after US stocks closed higher.
On late Wednesday, sentiment soured after a meeting between US and Mexican officials ended with scant sign of progress.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)