After four days of correction, Indian indices even as Asian stocks showed firmness, were weak. At the open Nifty was at 14975, while Sensex was at 50993.
Technical charts however indicate that corrections shall continue with markets trading in a range.
Nifty PSU Bank will also be looked after as it saw a good drop in the previous session.
Aviation, hospitality stocks shall also be impacted as state governments are considering fresh restrictions.
Sectorally, in the early trade, realty and FMCG were in the red while all other sectors were up.
Shares of UPL will be in focus as the company is raising $500 million in debt financing, becoming the first Indian company to take such sustainability-linked loan.
In Asian markets, stocks have trended higher with gains of 0.78 percent on Japanese Nikkei.
Oil prices also edged higher as US crisis ebbed and back home fuel prices have been witnessing surge for 12th day in a row as there have been production or supply side constraints for the US crude. Also resurgence in Covid 19 cases in India is weighing on the commodity.
Gold prices meanwhile also retreated and over the time Covid 19 situation, easy liquidity shall dictate the commodity's price.