The benchmark BSE Sensex was trading 288 points down in late morning deals on profit-booking in realty, oil&gas, IT, teck, auto, power, consumer durables, healthcare and FMCG sectors amid weak Asian markets.
The market breadth indicating the overall health of the market was negative.
The BSE Sensex resumed higher at 28,093.54 and hovered in a range of 28,095.97 and 27,739.13 before quoting at 27,779.23 at 1100 hrs, a fall of 288.08 points or 1.03 per cent from its last close.
The 50-share Nifty also moved down by 68.45 points or 0.80 per cent to 8,450.10 at 1100 hrs.
Major losers were, Cipla 4.07 per cent, ONGC 2.98 per cent, Hindalco 2.14 per cent, HDFC 2.05 per cent, Vedanta 2.05 per cent, Infosys 1.94 per cent, M&M 1.80 per cent, RIL 1.55 per cent, Tata Motors 1.53 per cent and L&T 1.44 per cent.
However, SBI rose by 3.09 per cent followed by Tata Steel 1.86 per cent and Sun Pharma 1.08 per cent.
While, Foreign investors bought shares worth Rs 403.76 crore during previous trading session, as per provisional data released by the stock exchanges.
In overseas markets, Asian stocks edged lower in early trade. Key indices in China, Hong Kong, Taiwan,Singapore and South Korea were off 0.12 per cent to 0.93 per cent.
In Japan, the Nikkei 225 was up 0.19 per cent.
