Concerns over an intensifying trade conflict between the United States and China, along with increasing chances of further policy tightening by the US Federal Reserve, weighed on investor sentiment.
Around 9:15 am, the Nifty 50 index was down by 0.07 per cent at 19,384.75, while the S&P BSE Sensex slipped 0.08 per cent to 65,391.88. Broader markets, however, were trading in positive territory.
Most of the major sectoral indices traded in negative territory, including Nifty Bank, Nifty IT and Nifty Financial Services. On the other hand, Nifty Realty was up nearly 2 per cent, while Nifty Oil & Gas rose 1.06 per cent.
The cautious market sentiment reflects the apprehension among investors regarding the potential impact of the trade tensions and possible policy actions by the US Federal Reserve.
Global cues have played a significant role in shaping early trading activity.
Market participants will closely monitor any further developments in the trade conflict and the monetary policy stance of the US Federal Reserve.