Markets give up early gains; trade in negative territory

Mumbai, November 15

Equity benchmark indices on Tuesday gave up their initial gains to trade lower.

After a positive beginning, the 30-share BSE Sensex climbed 158.85 points to 61,783 in early trade. The broader NSE Nifty had advanced 49 points to 18,378.15.

However, both the benchmark indices later turned choppy and were trading lower.

The BSE benchmark quoted 166.7 points lower at 61,457.45 and the Nifty traded 37.10 points down at 18,292.05.

From the Sensex pack, UltraTech Cement, ICICI Bank, NTPC, IndusInd Bank, Bharti Airtel and Mahindra & Mahindra were the major winners in early deals.

ITC, Tata Consultancy Services, Tech Mahindra, Sun Pharma and HDFC were among the laggards.

Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong were quoting higher, while Seoul traded lower.

International oil benchmark Brent crude was trading 0.13 per cent lower at USD 93.02 per barrel.

Foreign Institutional Investors remained net buyers on Monday as they bought shares worth Rs 1,089.41 crore, as per exchange data.