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Sensex, Nifty erase opening gains as auto stocks drag; Infibeam crashes 52%

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At 9.45 am, the Sensex edged lower by 30 points, or 0.08 percent, to trade at 36,294, while the Nifty was down to 10,960.05, lower by 17.50 points, or 0.16 percent.

Sensex, Nifty erase opening gains as auto stocks drag;  Infibeam crashes 52%
Indian shares opened higher on Friday, tracking positive global cues but trading was volatile on the back of sustained selling in mid-caps and financials.
The BSE Sensex jumped over 131 points, or 0.4 percent to start at 36,455.76, while the NSE Nifty50 opened at 11,008.10, up 30.55 points, or 0.3 percent. Indices edged up in initial trade but soon turned negative.
At 9.45 am, the Sensex edged lower by 30 points, or 0.08 percent, to trade at 36,294, while the Nifty was down to 10,960.05, lower by 17.50 points, or 0.16 percent.
Midcaps also erased opening gains. The BSE MidCap was down 1.6 percent, while the BSE SmallCap dipped nearly 2 percent. Largecap slipped half a percent. Nifty MidCap shed 1.54 percent.
Only Energy, FMCG, Utilities, Oil & Gas traded positive among the 19 BSE sectoral indices. On the NSE, only FMCG traded positive with 0.42 percent gains.
Realty, Metal, Pharma, Media, IT, Auto dipped the most by up to 2.21 percent. Bank Nifty shed 0.24 percent with more weakness seen in PSU banks.
Among gainers, Gail surged over 3 percent, while IndusInd Bank, HDFC twins, Asian Paints, ITC also rose by up to 2.10 percent.
Yes Bank tanked nearly 9 percent, while Indiabulls Housing Finance again dropped by over 6 percent. Bharti Airtel, Tech Mahindra and Bharti Infratel were other top losers, falling by up to 3.24 percent.
Internet and ecommerce company Infibeam's shares nosedived 52 percent.
Globally, Asian shares advanced largely with Japan's Nikkei up by 1.56 percent at 9.51 am. Hong Kong's Hang Seng also rose by 0.6 percent.
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