Equity benchmarks started off the week on a negative note on Monday, weighed by banks after the S&P retained its India’s rating at BBB- and outlook stable. Weak Asian cues also weighed on sentiment.
The 30-share BSE Sensex was down 77.25 points at 33,601.99 and the 50-share NSE Nifty fell 35.30 points to 10,354.40.
ONGC, L&T, Bosh, Dr Reddy's Labs and Power Grid were early gainers while Sun Pharma, Vedanta, HPCL and Tata Motors were losers.
Nifty Midcap was down 0.4 percent.
Bharat Bijlee, Suzlon Energy, Autoline Industries, GPT Infra, Inox Wind and KEC International gained 1-5 percent.
Quess Corp, Edelweiss Financial, Reliance Communications, SBI, Bank of Baroda, Axis Bank, Yes Bank, BHEL and Crompton Consumer were under pressure.
Asian indexes edged down despite the firmer lead from Wall Street last week. Chinese markets traded lower as investors kept an eye on developments in the bond market while South Korea's Kospi slid on weakness in tech names.
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