India, Sept. 24 -- Indian equities opened lower on Thursday, September 24, with financial stocks bearing much of the selling pressure. HDFC Life emerged as the biggest Nifty 50 loser, while Bajaj Finance, Axis Bank, Bajaj Finserv and Kotak Mahindra Bank also traded sharply lower.

The weak opening came against a cautious global backdrop, with higher US Treasury yields, weakness in US equities, foreign fund outflows and crude oil volatility weighing on investor sentiment.

HDFC Life Falls Over 7%

HDFC Life was the worst-performing Nifty 50 stock in early trade, falling 7.14% to around Rs 521.40. The decline followed the Insurance Regulatory and Development Authority of India's (IRDAI) proposed changes to insurance distribution costs and c...