Foreign capital outflows also affected the market to some extent. Foreign institutional investors (FIIs) sold shares worth a net Rs 84.13 crore on Monday as per provisional data from the stock exchanges.
    
Gail India fell by 4.40 percent even as net profit rose 57.24 percent to Rs 972.03 crore on 17.56 percent rise in total income to Rs 14977.89 crore in Q4 March 2014 over Q4 March 2013.
    
The Sensex resumed higher at 24,748.10 and hovered in a range of 24,777.31 and 24,422.33 before quoting at 24,471.30 at 1100hrs, showing a loss of 245.58 points, or 0.99 percent, from its last close.
    
It had gained by 418.86 points or 1.72 percent in the last three sessions. The NSE 50-share Nifty also dropped by 58.55 points, or 0.80 percent, to 7,300.50 at 1100hrs.
     
Other losers were SSLT 3.38 percent, ONGC 2.57 percent, M&M 2.39 percent, Axis bank 1.75 percent, BHEL 1.70 percent, SBI 1.58 percent and RIL 1.39 percent.
     
Asian stocks edged lower in choppy trade in their morning trade. Key benchmark indices in China, Singapore, Hong Kong and South Korea were off 0.02 percent to 0.87 percent while indices in and Taiwan and Japan were up 0.14 percent to 0.87 percent.

(Agencies)

Latest News  from Business News Desk