Indian shares opened in the red on Thursday due to the losses made by realty and metal stocks. Broader indices also underperformed with Nifty Midcap 100 and Nifty Smallcap 100 losing 1 percent.

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The Sensex and the Nifty traded lower despite Sebi easing norms for FPIs, mutual funds and NBFCs. The market regulator also announced a new mechanism to reward informants with up to Rs 1 crore cash for any credible inside information.

At 9:20 AM, the Sensex was trading 116.44 points lower at 36,943.93 while the broader Nifty50 index was down 37.40 points at 10,871.

Britannia, YES Bank, UPK, Dr Reddy's Laboratories and ITC were the top gainers on the Nifty50 index while Indiabulls Housing Finance, Tata Steel, JSW Steel, Adani Ports and Vedanta were trading in the red.

All sectoral indices were trading in the red during the opening trade. The Nifty Realty index lost the most, down 2.11 percent, followed by metal and financial services.

According to CNBC-TV18 sources, Fidelity Management might sell stake in LIC Housing Finance, about the book size of $200 million. Intraday, the shares of LIC Housing Finance traded lower by 7.56 percent at Rs 428.35 per share on the NSE.

Globally, Asian shares went flat on Thursday as uncertainty over the outlook for both US interest rates and the chance of global fiscal stimulus sucked the life out of markets. Moves were minuscule, with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.2 percent in very light volumes.

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