Sensex extends losses, Nifty below 10,400 as Brent crude trades above $70/bbl.
The market extended its losses after rising crude oil prices pushed 10-year bond yield higher and rupee lower in morning.
The 30-share BSE Sensex fell 106.53 points to 33,773.72 and the 50-share NSE Nifty declined 30.40 points to 10,371.90.
The rupee depreciated 15 paise to 65.15 against the US dollar ahead of the release of US Fed meeting minutes scheduled later in the day.
However, weakness in the US dollar against select currencies overseas and a higher opening in domestic equities capped the losses.
Meanwhile, foreign portfolio investors (FPIs) sold equities worth Rs 684.99 crore yesterday, provisional data showed.
Yesterday, The rupee had ended higher by 3 paise at 64.99 against the American currency amid easing US-China trade war fears.
Benchmark indices erased all opening gains to trade mildly lower amid mixed Asian cues, as higher crude oil prices and bond yields hit investors sentiment.
The 30-share BSE Sensex was down 20.68 points at 33,859.57 and the 50-share NSE Nifty fell 9.20 points to 10,393.10.
About 617 shares advanced against 563 declining shares on the BSE.
ICICI Bank, SBI and HDFC Bank were early losers while ONGC, Hindalco, Nalco, Tata Steel, Infosys, L&T, Dr Reddy's Labs and Titan Company gained.
Mahanagar Gas lost nearly 4 percent after big block deals in opening.
Aban Offshore, Fortis Healthcare, Jaypee Infratech, AU Small Finance, Indiabulls Real, Phoenix Mills, Federal Mogul, Voltas, Blue Star, Amber, Jaiprakash Associates, Oil India and Nalco gained up to 4 percent.
Jet Airways and Andhra Bank are under pressure.
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