The benchmark BSE Sensex erased initial gains and was down 107 points in late morning trade amid capital outflows from foreign funds and overnight losses in the U.S. stock markets.
Foreign institutional investors sold shares worth a net Rs. 318.91 crore on Monday, according to provisional data from the stock exchanges.
The Sensex opened higher at 20,845.77 and moved up to 20,890.48 on strong buying. However, it declined afterwards to 20,637.18 and quoted at 20,680.69 at 1030 hrs, a drop of 106.61 points, or 0.51 per cent, from the previous close.
The 50-share CNX Nifty on the National Stock Exchange declined 41.50 points, or 0.67 per cent, to 6,149.75 at 10.30 a.m.