Mumbai: The BSE gauge Sensex dropped over 117 points to trade below 57,900-level in a highly volatile opening session Thursday, as investors weighed geopolitical tensions between Russia and Ukraine.
After opening over 300 points higher, the 30-share Sensex reversed gains to venture into the negative zone fighting bouts of volatility. The gauge was trading 117.44 points or 0.20 points lower at 57,879.24.
Similarly, the NSE Nifty edged lower by 23.45 points or 0.14 per cent to 17,298.75.
On the Sensex chart, IndusInd Bank, Axis Bank, ICICI Bank, UltraTech Cement and HDFC Bank were among major laggards. Of the Sensex constituents, 16 shares were trading in the red.
Elsewhere in Asia, markets were trading mixed as investors remained cautious after the US administration maintained that a possibility of Russian invasion on Ukraine was still on.
A Russian invasion of Ukraine can happen anytime now, the White House said Wednesday.
Global crude oil benchmark Brent Futures fell 0.86 per cent to USD 93.99 per barrel Thursday.
Foreign institutional investors (FIIs) were net sellers in the capital market Wednesday, as they offloaded shares worth Rs 1,890.96 crore, according to stock exchange data.
