Sensex, Nifty lose early gains

Agency News

The benchmark index of the Bombay Stock Exchange (BSE), Sensex, is down 10.62 points or 0.03% at 31578.10. The benchmark index of the National Stock Exchange (NSE), Nifty down 10.00 points or 0.11% at 9256.75.

About 1050 shares have advanced, 567 shares declined, and 74 shares are unchanged. On morning hours of Monday, the S&P BSE Sensex index opened 467.47 points higher at 32,056.19 from the previous close, before erasing those gains in the first hour of trade.

Bharti Infratel, Axis Bank, Cipla, JSW Steel and Eicher Motors - tracking between 2.42 per cent and 5.02 per cent lower - were the top percentage losers in the Nifty. On the other hand, Tata Motors, HDFC Bank, Infosys, Tech Mahindra and HCL Tech - up between 1.91 per cent and 3.77 per cent each - were the top gainers.

Infosys shares rose as much as 4 per cent to touch Rs 654.50 on the BSE at the strongest level in morning, compared with their previous close of Rs 629.30. The IT major will report its financial results for the January-March period later in the day.

However, market breadth favoured gains, with an advance-decline ratio of 2:1, as 1,075 stocks on the BSE traded higher while 573 were in the negative territory. On the NSE, 1,062 stocks rose while 537 fell.