On Sunday, Prime Minister Manmohan Singh said the economy is anticipated to grow about 7% this fiscal year, lower than the revised forecast issued by government previous month, further affected the market sentiments.
At 10.05 am IST, the 30-share BSE Sensex was at 15.732.16 down by 116.64 points or 0.74% and NSE Nifty was trading at 4,708.05 down by 38.85 points or 0.84%.
In Asia, most of the markets were trading in negative terrain, the Nikkei 225 was down by 98.36 points and was at 8390.35. The Hang Seng was down by 170.83 points and was at 18.422.23. The Shanghai composite was up by 31.17 points and was at 2194.57.
Among market indicators on BSE Metal were trading at 9,642 down by 157.50 points or 1.61% and Auto were trading at 8,089.66 down by 103.26 or 1.26%.
On the National Stock Exchange (NSE), the top volume gainers were Siemens, Tata Power, Reliance Power, Maruti and Infy posted gains between 0.70%-1.38%.
And the top losers in the opening trade were Reliance Communications, Sesa Goa, Bharti Airtel, Jindal Steel and Reliance Infrastructure were among top losers.