A key Indian equity index started trade on a negative note Thursday and, an hour into trade, was ruling 1.06 percent lower than its previous close. The downtrend in Indian equities was expected to continue a fourth day.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened lower at 16,191.39 points and, about an hour after opening bell, was at 16,108.82 points, 1.07 percent or 174.67 points lower than its previous close at 16,283.49 points.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) was also in the red at 4,778.65 points, down 0.98 percent from its last close.

Broader market indices were in the negative as well, with the BSE midcap index 1.44 percent down, while the BSE small cap index was trading 1.46 percent lower.