Sensex pares initial gains, down 30 pts

TIL Desk/Business/Mumbai/ The market benchmark Sensex erased initial gains in late morning deals following emergence of selling in sectors like IT, teck, energy, telecom and realty. On the other hand, metal and healthcare stocks witnessed sustained buying.

Cautious trade in global markets ahead of the UK elections and testimony from sacked FBI head James Comey on his probe into Donald Trump’s links to Russia also influenced sentiment, brokers said.

The BSE 30-share Sensex resumed higher at 31,316.91 and moved between 31,354.51 and 31,214.35. It was quoting at 31,240.85 at 1100 hours, down 30.43 points, or 0.10 per cent. The NSE 50-share Nifty also eased by 10.15 points, or 0.11 per cent, at 9,653.75 at 1100 hours.

Major losers were, GAIL 3.12 per cent, TCS 2.43 per cent, Adaniports 1.79 per cent, ONGC 1.62 per cent and HeroMotoco 1.07 per cent. However, Tata Steel rose by 3.48 per cent followed by Dr Reddy 3.15 per cent, HDFC 1.83 per cent and Sunpharma 1.58 per cent.