Mumbai, July 7
The domestic benchmark indices opened marginally lower on Monday amid mixed global cues, as selling was seen in the metal, auto, IT, PSU bank, pharma and financial service sectors in the early trade.
At around 9.28 am, Sensex was trading 75.59 points or 0.09 per cent down at 83,357.30 while the Nifty declined 18.25 points or 0.07 per cent at 25,442.75.
According to analysts, concerns surrounding a US-India trade deal and the fallout of SEBI’s report on Jane Street will influence market movements.
"There are reports of a possible interim trade deal between US and India before the July 9th tariff deadline. If that happens, that would be a positive. The regulatory action on Jane Street and its implications will be closely watched by the market," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
The volume of derivative trading is likely to take a hit impacting stock exchanges and some brokerages. This has implications for their stock prices, too. The short-term issues are unlikely to have any long-term impact on the market, he added.
Nifty Bank was down 50.95 points or 0.09 per cent at 56,980.95 in early trade.
The Nifty Midcap 100 index was trading at 59,669.55 after declining 8.20 points or 0.01 per cent. Nifty Smallcap 100 index was at 19,025.45 after declining 7.60 points or 0.04 per cent.