Opening Bell: Sensex falls 150 points, Nifty below 11,800; Tata Motors, Maruti top losers

UPL, Tech Mahindra, GAIL, Adani Ports, and HCL Tech were among the top gainers on the Nifty50, whereas Tata Motors, Maruti, YES Bank, BPCL, and IOC led the losses.

All sectoral indices were trading in the red in the opening trade. The Nifty Realty index fell the most, down 1.5 percent followed by the Nifty Auto (down 1.3 percent), Nifty Media (down 1.1 percent), and Nifty Pharma (down 0.9 percent).

Tata Motors and Maruti were top losers on brokerage downgrades. Tata Motors fell over 2 percent after Moody's cut senior unsecured instruments rating to Ba3 from Ba2 with outlook negative. While Maruti also fell 2 percent after UBS downgraded the stock to 'sell' from 'buy'. It added that the company is unlikely to benefit from BS-VI norma.

UPL was the top Nifty gainer after Deutsche Bank maintained a 'buy' call on the stock and said the business outlook of the company looks strong and sharp.

Balaji Telefilms gained 4 percent after it completed the sale of theatrical distribution rights for its upcoming slate of four movies for Rs 100 crore.