Sensex wipes out early gains to end 98 points lower at 38,757; Nifty settles at 11,440

NEW DELHI: Equity indices wiped out all early gains to finish lower on Monday with the benchmark BSE sensex falling nearly 100 points dragged by banking and financial stocks.
After a highly volatile session, the 30-share BSE index closed 98 points or 0.25 per cent lower at 38,757; while, the broader NSE Nifty settled 24 points or 0.21 per cent lower at 11,440.
Bharti Airtel, Bajaj Finance, Power Grid, Sun Pharma, SBI and HDFC Bank were the top laggards in the sensex pack falling up too 3.79 per cent.
While HCL Tech, TCS, Tech Mahindra, Infosys, Titan and Bajaj Auto were the top gainers rising as much as 10.08 per cent.
On the NSE platform, sub-indices Nifty Bank, Financial Services and Private Bank fell up to 1.77 per cent.
Domestic equities opened on a positive note tracking positive cues from global markets but failed to hold on to the gains, traders said.
On the currency front, rupee pared some of its early gains and settled 5 paise higher at 73.48 (provisional) against the US dollar, tracking muted domestic equities.
Meanwhile, exchange data showed that foreign institutional investors bought equities worth Rs 1,175.81 crore on a net basis on Friday.
(With agency inputs)