The S&P BSE Sensex dipped 330 points to 37,800 levels and the Nifty50 index was hovering below the 11,150-mark. Asian Paints and State Bank of India (both down 2%) were the top Sensex laggards. On the other hand, Reliance Industries was trading over 4 per cent higher on reports that Amazon is in talks to buy a 9.9 per cent stake in its retail arm. Sun Pharma also rose as much as 3 per cent in early deals.
was trading with marginal gains after announcing its June quarter results while Mphasis rose over 5 per cent after announcing its quarterly numbers.
Barring the Nifty Pharma index — up 1 per cent — the trend among Nifty sectoral indices was negative, led by Nifty Bank index, down over 1 per cent.