Indian equity markets opened in the red as selling pressure was visible across the board with heavyweights such as Reliance Industries, HDFC, Kotak Mahindra Bank and State Bank of India were among the leading decliners. Ahead of expiry of November derivative contracts, September quarter GDP data and OPEC decision later today.

As on 9:38 AM, the BSE Sensex was down 229 points at 33,374 and the NSE Nifty slipped 75 points to 10,286.

The S&P BSE MidCap Index fell 0.41% and the S&P BSE Smallcap Index slipped 0.29%.

Indiabulls Housing Finance, Infosys, Sun Pharma, Bajaj Auto and Dr.Reddy’s gained the most on Nifty50.

Kotak Mahindra Bank, Tech Mahindra, ONGC, Adani Ports and UltraTech Cement were the top losers.

All sector gauges in NSE were trading lower led by the PSU Bank Index's that saw 0.96% drop.

India VIX slipped by 1.04% at 13.01 level.

Out of 1,969 stocks traded on the NSE, 413 advanced, 1,133 declined, and 423 remained unchanged today.

A total of 27 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opens lower at 64.54 per dollar against yesterday's close of 64.32.

News Highlights:

Nifty PSU Bank Index slips 1%. Indian Bank (-3%), PNB, SBI, IDBI Bank, Canara Bank (-1%).

Infosys' Rs 13,000 Cr share buyback opens today. Stock trades marginally up.

Maithan Alloys completes acquisition of Salanpur Sinters and Anjaney Minerals. Stock up 1%.

Aban Offshore sets up subsidiary Aban Hydrocarbons Pte in Singapore. Stock down 1%.

McLeod Russel stock slips 2% after 1 Cr shares or 9.2% equity change hands on BSE at Rs 206.1 per share.

Indiabulls Housing Finance stock gains over 1% after 21 lakh shares change hands on NSE and BSE at Rs1,205 per share in three blocks.