Mumbai: The BSE Sensex surrendered early gains to trade over 137 points lower in opening trade as investors remained on the sidelines ahead of Reserve Bank of India's (RBI) monetary policy review meeting beginning today.
RBI's second bi-monthly monetary policy meeting of 2018-19 will be held from 4-6 June.
The 30-share index fell 137.60 points, or 0.39 percent, to 35,089.66.
Similarly, the NSE Nifty declined by 48 points, or 0.44 percent, to trade at 10,696.20.
Major losers were HDFC Bank, Asian Paints, Adani Ports, TCS, HUL, Power Grid, Wipro and ONGC, falling up to 1.82 percent.
Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 337.97 crore, while foreign portfolio investors (FPIs) sold equities to the tune of Rs 202.80 crore on Friday, provisional data showed.
Elsewhere in Asia, Hong Kong's Hang Seng was up 1.33 percent, while Japan's Nikkei rose 1.33 percent in early trade today. Shanghai Composite Index gained 0.17 percent.
The US Dow Jones Industrial Average ended 0.90 percent higher in Friday's trade.
Rupee rises 21 paise against US dollar
Maintaining its uptrend for the fourth straight day, the rupee strengthened by 21 paise to a fresh one-month high of 66.85 against the dollar in early trade today on increased selling of the greenback by exporters and banks.
Participants are also keeping an eye on RBI's second bi-monthly monetary policy meeting of 2018-19
Forex dealers said a higher opening of the domestic equity market supported the rupee but the dollar's strength against some currencies overseas after the release of an upbeat US jobs report capped the gains.
On Friday, the rupee had gained 35 paise against the US currency to end at a near one-month high of 67.06 after a flurry of upbeat economic data bolstered confidence in the growth outlook.
Updated Date: Jun 04, 2018 11:05 AM