The Nifty is trading in the red, falling below the psychologically important 8,000 level. The 50-share index was down 1.2 percent as of 3:02 p.m.
Reliance Industries falls 1.8 percent while Axis Bank is down 2.3 percent.
The Nifty is tracking lower Asian peers on caution ahead of Fed meeting outcome later in the day.
Overseas investors sold index futures worth 13.94 billion rupees ($228.2 million) on Monday, exchange data shows.
(Reporting by Abhishek Vishnoi)
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