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India VIX was down by 1.83% from 10.67 to 10.87 levels in the previous session. Volatility has been cooling off from the last three weeks and comforting the bulls at support zones.

"The fall in operational costs should 100% impact the consumers, because at the end of the day, if operating costs are going to be lower, the benefit of the operating cost will be passed on to the customer. And that is what regulators, all the large institutions are pushing for."

From the Sensex pack, L&T, NTPC, Bajaj Finserv, Bharti Airtel and Tata Steel, opened with gains, while Axis Bank, TCS, Infosys, ICICI Bank, and Kotak Bank opened with cuts.

Brent crude futures slid 33 cents, or 0.4%, to $89.59 a barrel by 0050 GMT, while U.S. West Texas Intermediate crude (WTI) futures declined 33 cents, or 0.4%, to $86.54.

Dallas Fed President Lorie Logan said while it "could be appropriate" to skip an interest-rate increase in September, more policy tightening will likely be needed to get inflation down to 2% in a timely way.

The warning means that heavy rain has fallen or is expected to fall generally over Hong Kong, exceeding 70 millimetres in an hour, and is likely to continue, according to the Hong Kong Observatory.

Real wages adjusted for inflation fell in July for a 16th straight month in a sign households continued to feel the pinch from rising prices, separate data showed, boding ill for consumption.

Foreign portfolio investors were net sellers at Rs 758 crore on Thursday. DIIs were marginal buyers at Rs 28 crore.