The benchmark 30-share S&P BSE Sensex started 63 points lower.
The BSE Sensex and the NSE Nifty50 started Thursday's trade on a subdued note, tracking mixed Asian cues amid a decline in coronavirus cases. Hubei, the epicentre of the coronavirus outbreak, reported just 349 new cases on Thursday, the lowest since January 25.
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The benchmark 30-share S&P BSE Sensex started 63 points or 0.15 percent lower at 41,259. The broader 50-share NSE Nifty50 dipped over 25 points or 0.21 percent to 12,100.
Broader market indices also fell except the Nifty MidCap100 index which was up 0.12 percent in the early tick.
The Nifty Bank fell 0.29 percent, a day after the banking gauge jumped almost 1.5 percent. Among sectors, only pharma and IT traded in the green, while financial services fell over half a percent.
Among gainers, IndusInd Bank surged 3 percent, while Dr Reddy's Labs, Bharti Infratel, UPL and Sun Pharma gained between 1 and 2 percent. Kotak Mahindra Bank, HDFC, Coal India, Vedanta and UltraTech Cement declined by up to 1.2 percent.
Suzlon Energy shares jumped 9 percent on reports that the State Bank of India has approved the company's debt recast plan, while Sterlite Tech also rose 5 percent on bagging orders worth Rs 1500 crores.
Shares of Max Financial Services surged 10 percent on reports of Axis Bank's plans to acquire over 20 percent stake in arm Max Life Insurance Company through fresh issue of equity.
In the currency market, the Indian rupee opened lower against the dollar on Thursday. The domestic currency started at 71.79 per dollar against Tuesday's close of 71.52.
Currency markets were shut on Wednesday on account of Chhatrapati Shivaji Maharaj Jayanti.