At 9:19AM, the S&P BSE Sensex is trading at 28,438 down 20 points, while NSE Nifty is trading at 8,535 down 3 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Auto, Consumer Durables, Power, Healthcare, Metal, capital goods, FMCG, Oil and gas indices are the gainers, while Bankex, IT, Realty, Teck indices are losers.
Coal India, ITC, Sun Pharma, BHEL, Tata Steel, Maruti are among the gainers, whereas Infosys, TCS, Bajaj Auto are losing sheen on BSE.
State Bank of India has reportedly said that the final decision on the US$1 bn (Rs 6,200 crore) loan agreement with Adani Group for Australian mining project would be taken by the executive committee of the bank in 2-3 months.
Earlier SBI signed the pact with Adani Group on the sidelines of Prime Minister Narendra Modi's visit to Australia.
The focus will shift to global cues and important economic data which are scheduled this week. Among the vital macro data are the November CPI and the October IIP data. In addition November import & export data will also be closely scrutinised.
The mutual fund industry saw a net outflow of INR25,628 crore, with redemptions reaching over INR9.12 lakh crore, according to data released by the Association of Mutual Funds in India.
To encourage participation of small investors in PSU disinvestments, the Government has decided to double the quota reserved for retail investors to 20 per cent for the forthcoming stake sales in bluechip companies like ONGC and Coal India. The decision assumes significance following the enthusiastic response from retail investors in the Friday's stake sale in steel major SAIL, which fetched the government Rs. 1,715 crore, says a report.
Asian cues are mostly positive. On Friday, the Dow and S&P 500 closed a seventh straight month as a better-than-expected jobs report indicated strong economic growth. Payrolls rose by 321,000 in November, , while the unemployment rate held steady at 5.8 percent, a six-year low, says report.
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