Sensex and Nifty50 lost all early gains during the intraday trade on Monday, after opening over 150 points higher during the early trade.
Tech Mahindra was the top gainer with 2.77 per cent, followed by the TCS and HCL Tech by 2.11 and 1.52 per cent up on the BSE.
Shares of companies like HUL, Tata Motors, ITC, ONGC and Tata Steel dropped by 1.64, 1.42, 1.41, 1.11, and 0.92 respectively, putting all five companies in top laggards for the day.
Bank stocks also traded lower, however, global steel giant Arcelor Mittal has initiated payment for acquisition of debt-ridden Essar Steel for Rs 42,000 crore.
At 1234 hours, Sensex was down by 24.38 points at 40,958.33. It opened at 41,168.85, from its previous close of 41,009.71.
The Nifty slipped 14.60 points to 12,072.10.
(With input from agencies)