Markets opened the day with great caution as investors turned circumspect ahead of the Railway Budget and F&O expiry for the Feb series.
The Sensex was trading with losses of 25 points, while the Nifty lost 12 points in trade as investors looked to the Rail Budget for Developmental Cues that are likely in the Union Budget. Leading the set of losers from the Nifty in early trade were Dr Reddy's Sesa Sterlite and Zee Ltd.
Bharti Airtel and ICICI Bank were among the winners in early trade. Other gainers were Tata Motors and NMDC.
Shares in Railway stocks saw huge selling pressure with Kalindee Rail Nirman losing 4 per cent, while Titagorh Wagons was up almost 2 per cent in trade. Texmaco Rail and Kernex were also trading lower.
Banking stocks were not having a good day in trade with PSU banking stocks continuing to slide with Syndicate Bank, Punjab National Bank and Bank of Baroda being among the losers in trade.
Mid cap stocks also saw some selling pressure with Voltas and Crompton Greaves showing early losses.
Meanwhile, markets across Asia were trading lower, with the Hong Kong's Hang Sang and the Singapore's Strait Times lower in trade.