Markets continued to fall on Monday, with the Sensex declining 94 points as investors remained cautious amid unabated selling by foreign funds and elevated crude oil prices ahead of the RBI's policy decision later this week.
The 30-share BSE Sensex declined 93.91 points or 0.17% to end at 55,675.32. During the day, it tanked 473.49 points or 0.84% to 55,295.74.
The broader NSE Nifty fell 14.75 points or 0.09% to finish at 16,569.55.
"Indian markets opened in negative following mixed Asian market cues. During the afternoon session, markets trimmed their losses and traded in neutral to marginally in green. Markets continued to trade indecisively ahead of the RBI's monetary policy meet this week," said Narendra Solanki - Head-Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.
From the Sensex pack, Asian Paints, UltraTech Cement, Bajaj Finserv, Dr Reddy's, Nestle, Larsen & Toubro, HUL and Axis Bank were the biggest laggards.
In contrast, Tata Steel, IndusInd Bank, M&M and Kotak Mahindra Bank were among the major gainers.
Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong ended in the green.
Bourses in Europe were trading higher during afternoon trade.
Stock markets in the U.S. had ended lower on Friday.
Meanwhile, international oil benchmark Brent crude rose 0.61% to $120.4 per barrel.
Foreign institutional investors offloaded shares worth a net ₹3,770.51 crore on Friday, according to stock exchange data.
