BSE Sensex little changed as losses in some heavyweights offset by gains in technology stocks.
The benchmark BSE index down 0.03 percent while the broader NSE index is 0.06 percent lower.
Overseas investors, who have played a key role in the near 23 percent gain in Indian markets so far this year, sold shares worth a net 1.94 billion rupees on Monday after three days of buying.
Asian shares struck a cautious tone as the double-whammy of a deepening conflict in Iraq and a gas dispute between Ukraine and Russia sapped investors’ appetite for risk.
Investors take profits in some heavyweights including Housing Development Finance Corp and Mahindra and Mahindra Ltd. HDFC is down 1.75 percent while Mahindra and Mahindra Ltd falls 1.8 percent.
However, export-oriented stocks such as technology gain for a second straight day. Infosys Ltd is up 0.6 percent, Tata Consultancy Services Ltd 0.9 percent and Wipro Ltd higher 0.8 percent.