The benchmark BSE Sensex washed out its initial gains and was quoted lower by over 133 points in late morning trade on fresh selling in capital goods, banking, auto and power sector stocks.
Besides, foreign portfolio investors (FPIs) sold shares worth a net Rs 264.35 crore yesterday, as per provisional data.
The Sensex resumed higher at 29,129.85 and firmed up further to 29,133.62 on initial strong buying.
But, it immediately declined to 28,867 at 1100 hours, showing a loss of 133.14 points or 0.45 per cent.
The CNX 50-share Nifty also eased by 40.15 points, or 0.45 per cent, to 8,716.40 at 1100 hours.
Among global markets, Asian shares were trading higher in their early trade.
US markets ended higher for the second consecutive day yesterday as oil prices extended their recent rally, while higher-than-expected January car sales also bolstered the advance.
Key benchmark indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were up by 0.25-2.17 per cent.
