Benchmark indices opened the day lower ahead of the expiry of the F&O series for the month of November. Asian markets were trading mixed, though the Japanese markets fell, after the yen lost ground against the dollar. The losses in the Yen tends to benefit Japanese exporters.
Shares in State Bank of India lost marginal ground, despite the bank steeply reducing the lending rates. Shares in Larsen and Toubro which had surged in trade, following a good set of quarterly numbers, lost 1 per cent on profit booking.
Banking stocks were seeing a weakish trend with stock like ICICI Bank, Yes Bank and Kotak Mahindra Bank all seeing losses in excess of 1 per cent.
Wipro, ONGC and Coal India were among the early gainers in trade from the Nifty. PSU Banking stocks also came in for some selling pressure. Bank of Baroda, Punjab National Bank and Union Bank of India were among the early losers in trade.