The Sensex was trading lower by 96 points, while the Nifty lost 40 points in early trade. IT stocks continued to buck the trend once again with HCL Tech rallying 1.32 per cent, while other notable gainers were Infosys, TCS and Wipro.
On the other hand stocks that lost ground from the Nifty were banking stocks with notable losers being shares from the private sector bank including HDFC Bank, IndusInd Bank and ICICI Bank.
Heavyweight, Larsen and Toubro also saw some selling pressure along with other heavyweights like ITC and Reliance Industries.
Realty stocks which have been rallying in the last few trading sessions lost ground with shares like DLF, Oberoi Realty and Sobha Developers among the losers.
Some infra stocks, however, saw buying interest with notable gainers being Reliance Power, Adani Enterprises and PTC.
Shares in Tata Motors fell despite the company reporting better then expected results. PSU banking stocks, UCO Bank fell even as the company reported a good set of quarterly numbers.
Mid cap stocks were having a better session in trade with the mid cap index trading higher. Among the gainers from the sector were Apollo Tyres, Aurobindo Pharma and Steel Authority of India.
Meanwhile, Asian markets were trading mixed with the Korean Seoul Composite and Strait Times trading higher, while the Jakarta Composite and the Shanghai Composite trading lower.