Tracking weakness from overnight correction in the US benchmark indices, the domestic equity market opened on a negative note on Friday. The broader Nifty50 gave up 15300 to slip below to open at 15,272.65 and Sensex shed over 300 points to start near 51,181.99 as benchmarks opened with more than half per cent cuts on Friday.
In the broader market, Nifty midcap and smallcap were trading lower by 1.3% each as India VIX climbed past 23-mark
On the sectoral front, except Metal, all Nifty sectoral indices opened in the red.
In the pre-open, the Sensex declined by more than 300 points as only four stocks advanced and 26 declined on the 30-share index.
Earlier, SGX Nifty Futures rose 80 points on the Singaporean exchange minutes before opening of the Indian market.
The cues from major Asian indices were mixed on Friday as Japanese Nikkei 225 slumped 2.3%, Hang Seng Index at the Hong Kong Exchange traded higher by nearly one per cent and Chinese Shanghai Composite was up around 0.4% in the early trade on Friday.
On Thursday, the US markets ended in red amid fears of recession as Dow Jones closed with nearly 2.5% cuts, Nasdaq settled with over 4% fall and S&P 500 ended lower by more than 3% decline.