Benchmark indices extended losses on Monday morning with Nifty falls below the key level of 11,400, led by weak global cues.
At around 10.00am, the BSE Sensex is down 308 points at 38028-level, and the Nifty down 80 points at 11339-level.
Bajaj Finserve, HDFC, HDFC Bank, BPCL and Bajaj Finance were among major Nifty losers while gains were led by Vedanta, Tata Motors, Yes Bank, Bharti Infratel and SunPharma.
Sectoral indices are in mixed trends with Nifty Auto, Metal, IT and pharma were trading in the green whereas Nifty Financial Service, Private bank and realty indices were witnessing heavy selling pressure.
Among specific stocks, Reliance Industries falls 0.17% to Rs1,246.90-per share at this time, after the company on Friday reported 6.82% rise in consolidated net profit to Rs 10104 crore .
Shares of HDFC Bank also lost 2.77% to Rs.2,309.85 per share after the Bank on Saturday reported 21.01% jump in net profit to Rs5568.16 crore.
Shares of Kotak Mahindra Bank declined 1.46% to Rs1,477.00 per share ahead of its result announcement today.