Equity benchmark indices opened on the negative note as selling pressure was witnessed in TCS, Infosys, Bajaj Finance and HDFC Bank. The Sensex was down 30 points at 38,701, while the Nifty dropped mere 2 points to trade at 11,554 levels.
TCS, Bajaj Finance and Tata Motors are among top losers on the Nifty50, while Coal India, Yes Bank, and ZEE surged in the morning trade.
Manpasand Beverages' shares slipped after statutory auditor M/S Mehra, Goel, & Co. submitted their resignation on July 8 citing reasons of an ongoing GST probe.
Shares of Interglobe Aviation (Indigo) have crashed 15% in opening trade after co-founder Rakesh Gangwal sent a letter to the company that he has written to Sebi seeking intervention in several corporate governance violations.
The Volatility gauge, India VIX was up 0.40% at 13.74.
The most active stocks on the NSE are TCS, Infosys, and IndiGo.
Asian markets mixed following losses in US markets as investors await Fed chairman Jerome Powell's testimony before Congress for further cues on Federal Reserve’s monetary policy.
Meanwhile, oil prices were supported by Middle East tensions and OPEC supply cuts. Brent crude futures rose 67 cents to $64.83, while US crude gained 83 cents to $58.66 a barrel.
The Indian rupee opened weaker at 68.62 against the US dollar on Wednesday.
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