Domestic equity benchmark Sensex dropped over 85 points in early trade on Tuesday amid lack of directional cues from global markets.
The 30-share BSE index opened on a choppy note and was trading 2.15 points or 0.01 per cent lower at 38,415.08; while the NSE Nifty slipped 6.80 points or 0.06 per cent to 11,348.25.
PowerGrid was the top loser in the Sensex pack, shedding around 1 per cent, followed by NTPC, Nestle India, ONGC, L&T, HDFC and M&M.
On the other hand, Reliance Industries, Sun Pharma, Infosys, Axis Bank and ICICI Bank were among the gainers.
In the previous session, Sensex settled 60.05 points or 0.16 per cent higher at 38,417.23, while Nifty advanced 21.20 points or 0.19 per cent to close at 11,355.05.
Exchange data showed that foreign institutional investors sold equities worth Rs 6.93 crore on a net basis on Monday.
Domestic equities opened on a choppy note tracking mixed cues from global equities, traders said.
Bourses in Shanghai and Hong Kong were trading with losses in mid-session deals, while Seoul and Tokyo were positive.
Stock exchanges on Wall Street ended on a negative note in overnight session.
Global oil benchmark Brent crude was trading 0.14 per cent lower at USD 41.95 per barrel.