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.
Indian indices lost its early shine but were still trading over some per cent higher during the intraday trade on Monday.
At 12.57 p.m. the Sensex was trading at 31,958.16, up by 317.34 points or 1 per cent.
Earlier in the day, the S&P BSE Sensex rose as much as 2.08 per cent or 658.88 points to hit 32,301.58 mark.
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Among the Sensex pack, the gainers were led by the automakers, being Maruti Suzuki as their front runner with 7.18 per cent gain, followed by Hero Motorcorp, Bajaj Auto at a gain of 6.76 per cent and 5.34 per cent respectively. Tata Steel and HCL Tech were other two companies in the top five players during the intraday trade.
On the other hand, laggards were led by ICICI Bank, slumping by 2.53 per cent, followed by HDFC, HUL, Asian Paints, and Sun Pharma.
Similarly, NSE Nifty50 was trading up by 1.03 per cent or 95.60 points at 9,348.50 during the intraday trade, after opening at 9,348.15 as against its previous close of 9,251.50.
Speaking about the specific stocks, ICICI Bank shares slipped to Rs 327.55, down by 3.02 per cent, after the private lender released its earning for the January- March period. The lender reported a net profit of Rs 1,221.36 crore for the quarter ended March 31, up 26.04 per cent compared to the corresponding period in 2019.
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