The BSE benchmark Sensex declined by nearly 80 points in early trade on Monday as funds and retail investors booked profits, a day of ahead of RBI monetary policy review.
The 30-share BSE index, which had gained over 287 points in the previous two sessions, declined by 79.69 points, or 0.47%, to 16,659.32.
In a similar fashion, the wide-based National Stock Exchange Nifty index shed 27.25 points, or 0.53%, to 5,021.35
Brokers said investors were cautious ahead of tomorrow's monetary credit policy and booked profits after recent gains.
Besides, 13.6% dip in third quarter earnings announced late last week by Reliance Industries Ltd (RIL), which has the heaviest weight on the BSE 30-scrip Sensex, also had some impact on the market, they said.
Stocks of Reliance Industries fell by 3.39% to Rs 766.45.
Meanwhile, in the Asia region, Japan's Nikkei Index down by 0.14% in early trade today.