Selling was seen in capital goods, telecom, auto, consumer durables, oil and gas, realty, FMCG, energy and healthcare sectors.
The benchmark BSE Sensex was down nearly 100 points in the late morning volatile trade, on the back of lower Asian cues. Continued selling by Foreign Institutional Investors (FIIs) and muted corporate earnings also weighed on the sentiments.
At 1258 hours, the benchmark Sensex was at 24,360.31, down 94.73 points or 0.39% lower.
Meanwhile, country's third largest software services firm Wipro on Monday posted 1.8% rise in consolidated net profit to Rs 2,234.1 crore for the third quarter.
Selling was seen in Capital Goods, Telecom, Auto, Consumer Durables, Oil and Gas, Realty, FMCG, Energy and Healthcare sectors. Good buying was witnessed in Metal, Banks, IT and Utilities segment.
The BSE Sensex opened higher at 24,400 and moved in a range of 24,524.85 and 24,285.23 before quoting at 24,371.30 at 1242 hours, 83.74 points or 0.34%. The NSE Nifty was also down by 25.85 points or 0.35% to 7,411.95 at 1242 hours.
ALSO READ: Sensex down 73 points in early trade on weak Asian cues
Major losers were Bajaj Auto down at 3.18%; ONGC 2.87%; Dr Reddy's 1.68%; Hero Motocorp 1.59%; L&T 1.54%; Cipla 1.40% and Bharti Airtel 1.37%.
Notable gainers are Tata Steel 3.13%; BHEL 1.83%; Axis Bank 1.77%; GAIL 1.67%; Lupin 1.17% and Infosys 0.79%.
Meanwhile, Foreign Portfolio Investors (FPI) sold shares worth Rs 1,123.79 crore last Friday, as per provisional data.
In the overseas market, Asian markets were trading lower after weak US economic data and massive fall in oil prices stoked further worries about a global economic downturn.
US stocks dropped sharply during the previous trading session last Friday, as oil prices plunged and investors worried about slowing growth in the US.
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