Market erases all gains, Nifty falls below 23,300
At close, the Sensex was down 422.59 points or 0.54% at 77,155.79, while the Nifty fell 168.60 points or 0.72% at 23,349.90.
The key Indian equity indices traded in the green on Thursday morning with the BSE Sensex gaining over 200 points.
Healthy buying was witnessed in metal and IT stocks.
Rise in the index heavyweights Reliance Industries and HDFC Bank supported the Sensex.
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Around 10.10 a.m., Sensex was trading at 52,661.58, higher by 217.87 points or 0.42 per cent from its previous close of 52,443.71.
It opened at 52,693.53 and has so far touched an intraday high of 52,708.72 and a low of 52,563.12 points.
The Nifty50 on the National Stock Exchange was trading at 15,777.10, higher by 67.70 points or 0.43 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The markets are trading around the midpoint of the current range which is in between 15,400-15,900. The volumes are soft and the momentum is spiritless. Until we do not get past either of the two levels, the Nifty will not witness a significant move.”
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