The Sensex fell 73.99 points to 29108.96 and the Nifty declined 16.30 points at 8792.60.
Coal India is down over 2 percent, while Dr Reddy's Labs, ICICI Bank, SBI and HDFC Bank are losers in the Sensex. Among the gainers are Sun Pharma, ONGC, Wipro, Tata Power and Sesa Sterlite.
The Indian rupee opened lower by 13 paise at 61.99 per dollar versus Friday's closing value of 61.86 a dollar.
Asian markets are negative in morning trade. In commodities, oil prices declined after a sharp rally on Friday where Nymex had surged 8 percent as unions called a strike at US oil and chemical plants on the weekend, cutting some of the gains made late last week.
Jet Airways and SpiceJet rallied more than 4 percent as aviation turbine fuel (ATF) is slashed by a steep 11.3 percent which now costs lesser than diesel. The price of ATF, or jet fuel, in Delhi was cut by Rs 5,909.9 per kilolitre, or 11.27 per cent, to Rs 46,513.02 per kl, oil companies announced.
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