Mumbai: The benchmark S&P BSE Sensex on Tuesday dropped 73 points in morning trade due to profit booking in FMCG, IT, teck, refinery and auto stocks amid lower global cues in spite of good foreign capital inflows.
The 30-share index resumed slightly lower at 20,604.27 and fell further to 20,520.32 before quoting at 20,532.53 at 1030 hours.
It showed a loss of 72.55 points, or 0.35 per cent, from its last close.
The NSE 50-share index Nifty also moved down by 0.34 per cent to 6,094.80 at 1030 hours.
Major losers were - ITC (1.50 pct), Tata Steel (1.07 pct), Tata Motors (0.96 pct), TCS (0.93 pct), Dr Reddy's Lab (0.91 pct) and HDFC (0.94 pct).
The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near-month November 2013 series to December 2013 series.
The near-month November 2013 derivatives contract will expire on coming Thursday.
Most Asian stocks declined in their early trade on profit taking after recent gains.
Key benchmark indices in Indonesia, Singapore, Japan, and South Korea fell by 0.08 to 0.76 per cent while indices in China, Taiwan and Hong Kong rose 0.01 to 0.68 per cent.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 837.80 crore yesterday, as per the provisional data from stock exchanges.