The Sensex and the Nifty opened the day weaker though global cues were quiet. The Sensex was trading with losses of 44 points, while the Nifty was trading lower by 14 points. Leading the set of gainers from the Nifty was Infosys which continued to see buying support following a good set of results.
The other notable gainers were Tech Mahindra, IDFC and ACC. Shares in TCS saw some profit booking after Friday's smart rally.
Shares in Adani Enterprises rallied affter reports that the company plans to sign MoU with Australia's Woodside Energy and MoU with SunEdison to set up solar manufacturing plant.
PVR was up after reports that the PVR group was looking to acquire Chennai's premier movie exhibition company SPI Cinemas.
PSU banking shares continued to grind lower, after having rallied in the last few weeks. Syndicate Bank, State Bank of India and UCO Bank were trading lower.
Real estate stocks also saw some profit booking in trade with notable losers being DLF and Unitech.
Meanwhile, markets in Asia were trading higher led by gains in the Hong Kong's Hang Sang and the Singapore's Strait Times.