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The benchmark indices erased early gains after touching all-time highs in the morning as rupee breached the 60-mark, for the 1st time in 8 months.
The 30-share Sensex was trading 0.08% or 17.20 points lower at 22,197.17 points, while the NSE's Nifty was trading marginally higher at 6,649.05 points, at 12.30 pm IST.
Experts feel markets could see some into a volatility. "Until the election phase, we might see more volatility in the markets. Nifty could see some consolidation," said Yogesh Radke, head (quantitative research), Edelweiss.
Among sectoral indices, the Realty (1.09%), BSE Power (0.84%) and BSE Metal (0.92%) were the major gainers. Among individual stocks, Hindalco Industries (2.99%), State Bank of India (2.77%) and Dr Reddys Laboratories (1.62%) were the major gainers on the 30-share Sensex.
Among Asian indices, the Nikkei (0.50%), Hang Seng (1.10%), Straits Times (0.39%) and Jakarta Composite (0.79%) were the major gainers.