FIRST TRADE: Indices down marginally; Nifty steady around 25,246, Sensex down 59 pts

Indian equities after the bloodbath witnessed in the previous session opened with mild losses. Nifty at the open was steady with a negative bias at 25,246.4, down 0.01 per cent or 3.7, while the 30-share Sensex was down 0.07 per cent or 58.44 points at 82,438.66.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. "The sharp correction of 2.1% in the Nifty yesterday was more due to the massive FII selling rather than fears of Middle East tensions escalating. The last three days have witnessed huge FII selling of Rs 30614 crores in the cash market. FIIs are moving money from expensive India to cheap Hong Kong on expectations that the monetary and fiscal stimulus being implemented by the Chinese authorities will stimulate the Chinese economy and improve earnings of Chinese companies."

Heavyweight banking company HDFC Bank reported its Q2 business update with deposit growth recording 15.1 per cent increase year-on-year (YoY). Meanwhile, gross advances at the private sector lender also logged 7 per cent growth.

Meanwhile, Asian markets were trading with gains, with Hang Seng index snapping previous day's sharp fall. 

Oil prices rose as heightening tensions in the Middle East aroused anxiousness among investors ahead of the US jobs data due later today.