The Sensex and the Nifty were trading down by about 0.6 per cent in the mid-session on Monday on fresh selling by funds and retail investors ahead of RBI monetary policy review tomorrow amid bearish global cues.
At 1.37 p.m., the 30-share BSE index Sensex was down 129.17 points (0.65 per cent) at 19,619.02 and the 50-share NSE index Nifty was down 45.05 points (0.77 per cent) at 5,841.15.
Among BSE sectoral indices, FMCG, PSU, metal and banking fell the most and were down 2.66 per cent, 1.46 per cent, 1.29 per cent and 1.1 per cent, respectively.
On the other hand, IT, TECk and auto sector stocks remained investors' favourite and were up 0.89 per cent, 0.43 per cent and 0.27 per cent, respectively.
Among 30-share Sensex, Wipro, Jindal Steel, Sun Pharma, Tata Motors and Hero MotoCorp were the top five gainers, while the top five losers were HUL, Hindalco, Sterlite, Coal India and ITC.
European stocks advanced for the first time in three days as companies from Danone to Reckitt Benckiser Group Plc reported results.
Stoxx 50 was up 12.64 points or 0.46 per cent at 2,754.60, FTSE 100 rose 39.73 points or 0.61 per cent to 6,594.52 and DAX climbed 63.94 points or 0.78 per cent to 8,308.85.
Asian stocks fell, with the regional benchmark declining for a fourth day, ahead of a speech by Bank of Japan Governor Haruhiko Kuroda and monetary policy reviews from the US to Europe this week.
Nikkei slumped 468.85 points or 3.32 per cent to 13,661.10, Hang Seng shed 110.01 points or 0.5 per cent to 21,858.90 and S&P/ASX 200 was up 4.3 points or 0.09 per cent at 5,046.33.
The Federal Open Market Committee is meeting on July 30-31, with reports this week expected to show economic growth weakened in the second quarter few jobs were added this month.
The European Central Bank and Bank of England are also meeting this week, after both signalled earlier this month that they will keep the interest rates low.
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