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The S&P BSE Sensex started on a cautious note on Friday tracking muted trend seen in other Asian markets. The fall in the index was led by losses in ITC, HDFC BankBSE -0.52%, RIL BSE -0.53 %, Sun Pharma,and HDFC Bank.The Nifty50 also started on a muted note, and was trading above its crucial psychological level of 7,800, weighed down by losses in FMCG, banks, and realty stocks.

GAIL up 5.7 pct, Petronet LNG jumps 4.6 pct.Indraprastha Gas up 3.9 pct, Gujarat State Petronet rises 2.2 pct.Shares are top gainers in BSE 'A' group.RasGas ready to modify SPA with Petronet - Petrowatch .Petronet has a 25-year deal with Qatar's RasGas to buy 7.5 million tonnes of LNG annually.Petronet and RasGas have agreed 'in principle' to postpone $1.5 bln of penalties for the shortfall in LNG off-take.