The 30-share index BSE Sensex resumed slightly higher at 22,522.46 and moved up further to 22,525.21 on initial buying.
However, it declined immediately to 22,378.49 before quoting 22,406.88 at 1000 hours, showing a loss of 102.19 points or 0.45 per cent from its last close.
The NSE Nifty also declined by 30.25 points, or 0.45 per cent, to 6,705.85 at 1000 hours.
Major losers were - GAIL 2.40 pct, Oil & Natural Gas Corpn 1.78, Coal India 1.42 pct, Larsen & Toubro 1.29 pct, Bharat Heavy Electricals Ltd (BHEL) 1.15 pct, ICICI Bank 1.15 pct, State Bank of India 1.00 pct and Bajaj Auto 1.00 pct.
Most Asian stocks declined in their early trade as investors await data on US jobs growth later today.
Key benchmark indices in South Korea, Taiwan, Hong Kong, Indonesia, and Singapore were down 0.03 to 0.53 pct, while indices in China and Japan were up 0.12 to 0.13 pct.
The US stocks slipped yesterday as investors turned cautious ahead of Friday's monthly jobs report.
Meanwhile, Foreign Institutional Investors (FIIs) continued their buying spree by investing net Rs 717.39 crore yesterday, as per provisional data from the stock exchanges.