The breadth of the market favoured declines, with 752 stocks advancing, 842 declining and 446 remaining unchanged. On BSE, 905 stocks advanced, 972 declined and 97 remained unchanged.
The market continued to trade on a negative note on Friday morning, with the Nifty trading 34 points down at 10,648 and the Sensex trading 130 points lower at 35,013.
The Nifty Midcap index was down half a percent, weighed down by stocks like Voltas, TVS Motor Company, Steel Authority of India, Jaiprakash Associates, Biocon, Havells India, and Jain Irrigation Systems, among others.
The Bank Nifty was also trading lower, as stocks like ICICI Bank shed 1.5 percent and HDFC Bank was down 1 percent. Bank of Baroda and State Bank of India were the other losers.
Among auto stocks, Tata Motors was down 1.5 percent, while Bajaj Auto was up 2 percent. Maruti Suzuki was trading lower by close to 1 percent in early trade.
The telecom sector was a mixed bag, with Reliance Communications gaining 12 percent and Bharti Airtel shedding 2 percent.
The top Nifty gainers were Bajaj Auto, which jumped two percent, followed by Tech Mahindra, HPCL, ONGC and Bajaj Finance.
The most actively traded stocks on the NSE were Bajaj Finance, up nearly 1 percent, and Reliance Communications. Voltas, Sun Pharmaceutical Industries and Graphite India were the other actively traded stocks.
One of the top gainers on BSE was Reliance Communications, while Time Technoplast, Reliance Naval and Engineering, JK Tyre and GNFC were the other big gainers.
The top losers on BSE were SRF, which fell 9 percent, and Voltas, which fell 8 percent. Parag Milk, TVS Motor and ICRA were the other big losers.
Bajaj Finance and First Source were some of the stocks that hit fresh 52-week highs in morning trade.
On the other hand, 86 stocks hit a new 52-week low. These include ABB, ACC, Amtek Auto, Bank of Baroda, Bharti Airtel, Ceat, PTC India and Vakrangee, among others.The breadth of the market favoured declines, with 752 stocks advancing, 842 declining and 446 remaining unchanged. On BSE, 905 stocks advanced, 972 declined and 97 remained unchanged.