The Indian market opened lower on Friday following subdued Asia peers amid US-China trade tensions and rise in crude oil prices despite a record rally in the US stocks.

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Asian stocks struggled to track Wall Street’s exuberance about a possible rate cut next month as anxiety over Sino-US trade negotiations clouded the investor mood in the region. Meanwhile, crude oil rose to three-week highs after Iran shot down a US military drone, raising fears of about fresh conflict in the Middle East.

At 9:20 am, the Sensex was trading 162 points lower at 39,439, while the broader Nifty50 index lost 50 points at 11,781.

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.

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