The benchmark index of the Bombay Stock Exchange (BSE), Sensex, opened 284.3 points lower at 30,095.51 in the initial trading hours.
The more broader benchmark index of the National Stock Exchange (NSE), Nifty started the session at 8,851.25, down 74.05 points from the previous close.
At 10:00 am, the Sensex was at 30,151, lower by 214 points or 0.7 per cent and the Nifty was at 8,875, down 44 points or 0.4 per cent.
Top gainers were Vedanta, L&T, UPL and Powergrid on the NSE, adding 2.2-4.9 per cent each. On the other hand, select IT and banking stocks were trading weak on the NSE. Infosys and Tech Mahindra had weakened 4.5 per cent each, while Kotak Bank and Axis Bank had lost 4.1 per cent and 2.8 per cent respectively.
Tata Consultancy Services (TCS) shares dropped by 2.6 per cent to Rs 1,689 on the NSE. The country’s largest IT services company’s earnings for the quarter ended March 31 to be announced on Wednesday.
Despite reported a net profit of Rs 2,326.1 crore for the quarter ended March 31, Wipro down 5.29 per cent compared the previous quarter and below analysts' estimate.