Benchmark indices opened the week on a dismal note as global cues remained weak following a slide in stock prices across Asia.
The Sensex was trading with losses of 208 points, at 26,010 points, while the Nifty fell 58 points at 7924 points. Leading the set of losers were banking stocks like ICICI Bank and Axis Bank.
Shares in Dish TV were higher by 4 per cent after reports that the government is examining a proposal to increase the foreign direct investment (FDI) limit in local television news channels.
Shares in Tata Motors remained resilient after Tata Steel sold shares in the company. The stock was flat in a falling market.
Shree Renuka Sugars was trading lower after reports that some of the promoters had pledged shares in the company.
Midcap shares also dropped in trade with Crisil losing as much as three per cent, while Hindustan Zinc and Reliance Capital lost two per cent each in early trade.
However, IGL and KPIT were among the few stocks that gained ground in trade.
Meanwhile, markets across Asia were trading with gains led by losses in the Strait Times and the Korean Kospi. However, the volatile Chinese Shanghai Composite was trading with gains.