Accordingly, both the indices — the 30-scrip Sensitive Index (Sensex) of the BSE and the broader 50-scrip Nifty at National Stock Exchange (NSE) — had a gap down opening.
Globally, Asian markets retreated as US Bond yields soared indicating an upcoming cycle of inflation.
On the domestic front, indices have been in a correction phase on the back of various QIPs as well as IPOs taking away liquidity from the system.
As a result, the 30-scrip S&P BSE Sensitive Index (Sensex) around 10.10 a.m. traded at 49,102.07 points, down by 114.45 points, or 0.23 per cent, from its previous close.
Similarly, the broader 50-scrip Nifty at the National Stock Exchange (NSE) traded in the red too.
It traded at 14,509.40 points, lower by 48.45 points, or 0.33 per cent from its previous close.