 "Sensex erases early gains, investors fear further rate hike")
The BSE Sensex opened 0.2% up, led by gains in engineering major Larsen & Toubro and financial stocks. At 9:18 am, the 30-share BSE index was up 0.18% at 18,380.70 points, with 21 components gaining.
However, the Sensex erased early gains and fell 0.17 percent at 10:25 am, tracking weakness in Asian markets and worries of a further hike in interest rates.
State Bank of India, the country’s top lender, was trading 0.3% lower ahead of its quarterly earnings. Rivals ICICI Bank and HDFC Bank rose. The 50-share NSE index was down 0.17 percent at 5,489.50 points.
Reuters
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