Markets erase gains, gets into red zone

Mumbai :  The key Indian equity indices erased all their early gains and were trading in the red zone on Tuesday.

At 2.27 p.m., the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading at 10,787.30 points — down 19.30 points or 0.18 percent — from the previous close of 10,806.50 points.

The Sensex of the BSE, which opened at 35,537.85 points, was trading at 35,515.81 points (2.28 p.m.), lower by 40.90 points or 0.12 percent from the previous day’s close at 35,556.71 points.

The Sensex has touched a high of 35,993.53 points and a low of 35,497.92 points in the trade so far.

The BSE market breadth was bearish with 1,592 declines and 973 advances.

Expectations of a BJP victory in Karnataka assembly election had lifted the key Indian equity indices on Tuesday morning.

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