Foreign institutional investors sold shares worth a net Rs 318.91 crore on Monday, according to provisional data from the stock exchanges. (Agencies)
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 percent, from the previous close.
The 50-share CNX Nifty on the National Stock Exchange declined 41.50 points, or 0.67 percent, to 6,149.75 at 1030 hrs. The major losers were Axis Bank (-2.74 percent), Tata Power (-1.59 percent), ONGC (-1.32 percent), Wipro (-1.32 percent), Hindalco (-1.27 percent), SBI (-1.23 percent) and HDFC Bank (-0.91 percent).
Asian stocks edged higher in morning trade after Janet Yellen won US Senate confirmation on Monday to become the first woman to head US Federal Reserve.
Key indices in Taiwan, Hong Kong, China, Singapore and South Korea rose, while indices in Japan and Indonesia fell. US stocks closed lower on Monday, with the S&P 500 index falling for the third consecutive session after weaker-than-expected services sector data.
Foreign institutional investors sold shares worth a net Rs 318.91 crore on Monday, according to provisional data from the stock exchanges.