Sensex opens mildly lower, Nifty holds 10,700; OMCs take a hit

Equities have begun the day on a lower note, with the Sensex shedding around 50 points, while the Nifty held 10,700 in the opening tick. The market breadth was in favour of advances.
The Sensex is down 48.69 points or 0.14% at 35167.63, and the Nifty down 16.30 points or 0.15% at 10701.50. About 302 shares have advanced, 229 shares declined, and 59 shares are unchanged.
Selling is visible across all sectors, barring Nifty IT, which is trading over half a percent higher. Big cuts are visible in financial names, with Nifty Bank falling 0.40 percent. Midcaps too are trading lower.
OMC stocks have taken a hit on the back of higher crude oil prices.