The S&P BSE Sensex and NSE Nifty 50 Indexes erased gains paced by declines in Larsen & Toubro, Indian Oil, Bharti Airtel, State Bank of India and Eicher Motors. The Sensex fell as much as 304 points from record high of 39,270.14 and the NSE Nifty 50 Index dropped 89 points from an all-time high of 11,761 seen in morning trade.
As of 2:49 pm, the S&P BSE Sensex traded 0.05 per cent or 19 points lower at 39,037 and the NSE Nifty 50 Index declined 0.14 per cent or 17 points to 11,696.
Six of 11 sector gauges compiled by National Stock Exchange were trading lower led by Nifty PSU Bank Index's 1.7 per cent decline. Pharma, Energy, Media and Banking gauges were also trading lower.
On the other hand, Nifty Realty Index was top gainer, up 0.4 per cent.
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