The BSE Sensex was trading 252 points or 0.35% lower at 72,509. Nifty50 was trading at 21,930, down 68 points or 0.31% at around 9.20 am.
The broader, more domestically-focussed small- and mid-caps fell 0.1% and 0.2% respectively. They are down 14.5% and 7.8%, respectively, from the record high levels hit on February 8.
The fall came following concerns raised by India’s markets regulator about significant inflows into small- and mid-cap funds.
Among Sensex stocks, Bajaj Finance, TCS, Tech Mahindra, and Bajaj Finserv opened with cuts, while NTPC, Power Grid, M&M, and Tata Motors opened with gains.
Hindustan Aeronautics shares rose 3% after the Defence Ministry signed contracts worth Rs 8,073 crore with the company for the acquisition of 34 advanced light helicopters and associated equipment for the Indian Army.KEC International also traded 3% higher after the company secured orders worth Rs 2,257 crore across various business verticals.
MORE TO COME…