Among stocks, Bharat Petroleum was down 4.7 per cent, Indian Oil 3.4 per cent, Indiabulls Housing Finance and Yes Bank both nearly 3 per cent. Heavyweight Reliance Industries too was down by 2.3 per cent.

According to a statement by Airtel Payments Bank, the two-wheeler insurance product offers "up to 70 per cent savings on annual premium, personal accident cover, protection against third-party liabilities and inspection free renewal through a fast, simple and paperless process".

To further substantiate his point, he said: "Assets belonging to me in the UK were sold and the costs of sale were almost 50 per cent of value. The remaining assets yet to be sold won't cover legal costs. So what's this all about? To enrich UK Lawyers?"

The cash-strapped airline stopped all flight operations indefinitely on Wednesday evening after a consortium of lenders led by government-owned State Bank of India declined to extend more funds to keep it afloat.

The embattled airline said it took this decision after State Bank of India (SBI) on behalf of a consortium of Indian lenders informed on Tuesday night, that they were unable to consider its request for critical interim funding.

The market sentiment was cheerful over initial corporate earnings and prospects of near-normal rains for the monsoon season.

The aviation regulator has been monitoring domestic air fares on a daily basis, particularly on high density routes and connecting remote regions where alternate mode of transport is not available.

All sectoral indices except realty traded in the green on National Stock Exchange during early hours.

Tata Motors gained 4.4 per cent, Coal India 2.5 per cent, Tata Consultancy Services 2.4 per cent, Vedanta 1.9 per cent and Hindalco 1.8 per cent.