Key benchmark indices trading lower with negative bias in early morning trade. The BSE Sensex trading at 29293.75 down 191.70 points (-0.65%) and NSE Nifty at 9061.10 down 60.40 points(-0.66%).
Bharti Airtel was biggest gainer in early trade, down 5 percent followed by M&M, ICICI Bank, Dr Reddy's Labs, BHEL, Idea Cellular and Hindalco.
Axis Bank, Cipla, Infosys, HUL, Power Grid Corporation and Bharti Infratel were losers.
Indiabulls Housing Finance lost 1.85%. The company announced that it has allotted its seventh tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating Rs 600 crore i.e. Rs 500 crore plus Greenshoe option of Rs 100 crore.
The Indian rupee opened lower by 27 paise at 65.56 on Wednesday as previous close of 65.29 against the US Dollar.