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Stock market opened with very bad note after the US Federal Reserve said it will remain 'patient' on raising rates and watch the data closely. According to traders, the market is going to be volatile as the session progresses as traders will square off open F&O positions.

Meanwhile, the Indian government started gearing up on divestment. It has decided to sell up to 10 per cent stake in Coal India via OFS route on Friday. They govt wants to raise Rs 24,000 crores from stake sale.

Good news for India is decrease in the crude oil prices which, slumped below $45 per barrel, on concerns of a slowdown in the global economy.

At 09:18 a.m.; the 30-share index was at 29,426.82, down 132.36 points or 0.45 per cent. It touched a high of 29,526.33 and a low of 29,378.30 in early trade.

The Nifty was at 8,863.75, down 50.55 points or 0.57 per cent. It touched a high of 8,902.05 and a low of 8,861.50 in early trade.

Among the sectoral indices, the S&P BSE Metal Index plunged 1.17 percent, the S&P BSE Bankex was 0.47 per cent lower and the S&P BSE Capital goods slipped 0.38 percent.

AW: Arun Kumar