Sensex down 700 pts from high; Adani Enterprises up 5%

Domestic markets erased gains and slipped into the negative zone in noon deals owing to weakness in FMCG stocks and index heavyweights Reliance and Bharti Airtel.

The BSE Sensex, which, touched a high of 58,474, slipped into red to a low of 57,849, and was now flat around the previous day’s close. The NSE Nifty 50 was seen testing the 17,050 level.

Broader indices, however, were seen holding gains up to 0.5 per cent. Volatility index, India VIX, meanwhile, slipped 5 per cent.

Among individual stocks, shares of Maruti Suzuki India (MSIL) gained 2 per cent, after the company said its promoter, Suzuki Motor Corporation, has bought over 3 lakh shares of the company, worth about Rs 300 crore, via open market.

Besides, shares of NBCC (India) rallied over 3 per cent after it secured Rs 500 crore work order to construct Government Medical College and Hospital at Karaikal, Puducherry.