Equity indices pare initial gains to turn red

The key Indian equity indices reversed their initial gains on Thursday to trade in the negative territory.

Around 10.19 a.m., Sensex was trading at 48,290.94, lower by 253.12 points or 0.52 per cent from its previous close of 48,544.06.

It opened at 48,512.77 and has so far touched an intraday high of 48,686.17 and a low of 48,268.64 points.

The Nifty50 on the National Stock Exchange was trading at 14,436.20, lower by 68.60 points or 0.47 per cent from its previous close.

Heavy selling pressure was witnessed in auto and IT stocks while metal stocks rose.

The top gainers on the Sensex were ONGC, Sun Pharmaceutical Industries and TCS, while Infosys, Maruti Suzuki India and IndusInd Bank were the major losers.

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