Benchmark indices started off the week on a flat note but the broader markets outperformed in early trade amid weak Asian cues.
The 30-share BSE Sensex was down 4.18 points at 29,457.27 and the 50-share NSE Nifty fell 2.55 points to 9,148.25. About 672 shares advanced against 321 declining shares on the BSE.
Dr Reddy's Labs share price rallied more than 2 percent after the USFDA has not issued any observations for Srikakulam plant.
Sun Pharma fell over 2 percent after sources told CNBC-TV18 that the US FDA issued 11 observations as part of audit to its Dadra unit, the biggest unit after Halol for the company for US supplies.
Torrent Pharma also lost 2 percent as sources told CNBC-TV18 that two of its plants will be re-inspected by US FDA.
The Indian rupee opened flat at 64.42 per dollar today against Friday's closing of 64.41.
Pramit Brahmbhatt of Veracity says pessimism that persists on back of geopolitical situation and weak cues from domestic equity market will be the reason for Rupee to depreciate today.
He expects the USD-INR pair to trade in a range of 64.20-64.80/dollar today.
Asian equities were mostly lower, with the dollar sinking against the yen, following tensions in the Korean Peninsula and better than expected Chinese economic data.
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