MUMBAI: The benchmark S&P BSE Sensex index fell as much as 160.37 points to hit 38,017.58 on the downside in early trade, and the broader NSE Nifty benchmark moved to 11,269.00, down 44.3 points from the previous close.
The domestic stock markets opened on a lower note amid weakness in global peers, a day after benchmark indices S&P BSE Sensex and NSE Nifty broke a six-day losing streak.
Around 9:20 am, the Sensex traded 137.50 points - or 0.36 per cent - lower at 38,040.45 while the Nifty was down 36.60 points - or 0.32 per cent - at 11,276.70.
Top percentage laggards on the 50-scrip index at the time were Yes Bank, ICICI Bank, SBI, Tata Steel and Tata Motors, trading between 1.53 per cent and 2.77 per cent lower.
Losses in banking and financial services stocks pulled the markets lower however gains in energy and infrastructure shares provided some support.
Equities in global markets tumbled on rising concerns about the US-China trade war. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.31 per cent.
On Wednesday, the S&P BSE Sensex index had ended 645.97 points - or 1.72 per cent - higher at 38,177.95 and the broader NSE Nifty benchmark settled at 11,313.30, up 186.90 points (1.68 per cent) from its previous close.