Wiping out early gains, the BSE benchmark Sensex declined more than 93 points during mid session today on account of funds selling, geared by a small increase in food inflation, amid alteration in key interest rates by the central banking institution (RBI).

At 1230 hrs, the 30-share benchmark index, BSE Sensex, which surged 117 points in the beginning, dropped 93.77 points to trade at 18,875.68 following reports that the food inflation remained up slightly to 15.57% for the week ended January 15 as against 15.52% during the last week.

Today, the Bombay Stock Exchange benchmark Sensex belled the day with a gain of 117.24 points at 19,086.69, whereas the broad based NSE Nifty began after surging 37.90 points or 0.67% at 5,725.30.

The Sensex had lost 182 points during its last trading session on Tuesday following the Resreve Bank of India raised the rates of interest for the seventh time since March last year and furthered its inflation estimation.

The central bank had also increased the inflation projection to 7% by March 31, higher than its previous forecast of 5.5%, as food costs zoomed.

Likewise, the National Stock Exchange index Nifty dropped 27.20 points to 5,660.20 at the same time with scrips in healthcare, real estate and metal segment registered novel losses.