Domestic stock markets erased all of the day’s gains on Thursday afternoon, ahead of the expiry of monthly derivatives contracts due by the end of the session. The S&P BSE Sensex surged as much as 322.22 points to 38,169.87 in morning deals, and then slumped 365.07 points from that level in afternoon. The NSE Nifty benchmark index moved in a range of 104.6 points, between 11,361.40 and 11,256.80 at the strongest and weakest levels respectively in the day.
At 12:25 pm, the Sensex traded 18.49 points – or 0.05 per cent – lower at 37,829.16 while the Nifty was down 9.00 points – or 0.08 per cent – at 11,262.30.
Top percentage laggards on the 50-scrip index at the time were Tata Motors, Bajaj Finance, Yes Bank, Coal India and Reliance Industries, struggling with losses of between 1.36 per cent and 2.38 per cent.
Reliance Industries, Larsen & Toubro and ICICI Bank were the top drags on the Sensex.