Key domestic indices which climbed higher initially on Monday felll at the mid-noon session on profit taking by investors. Investors turned cautious ahead of the GDP data for Q1 to be released later in the day.
Research agencies have estimated a GDP contraction ranging from 15 per cent to 26 per cent.
Intiially, equities showed promising gains taking cues from strong global markets amid the announcement of gradual phase out of lockdown.
Asian markets moved higher today as Japanese and Hong Kong shares showed gains. The Nikkei 225 is up 1.81%, while the Hang Seng is up 1.24%.
The BSE benchmark index Sensex opened sharply higher at 39,888.15, and rose further to a high of 40,010.17, and it fell to a low of 39,111.05, before being quoted 39,227.02, down by 240.29 points, or 0.60% at 12.10 pm.
Similarly, On the NSE, the Nifty 50 too traded lower by 85.15 points, or 0.75 per cent, to 11,562.45.
Prominent losers that dragged the markets lower were Sun Pharma, IndusInd Bank, Kotak Bank, SBI, L&T, ICICI Bank, Titan which fell up to 4 per cent.
However, a few notable gainers were ONGC, Reliance, HDFC Bank, Infosys and HDFC.