Sensex erases early gains, falls 80 pts at mid-session

The Bombay Stock Exchange Sensex erased early gains in the mid-session today to trade lower by over 80 points on profit selling in heavy-weight stocks in the metal sector.

The Bombay Stock Exchange Sensex erased early gains in the mid-session today to trade lower by over 80 points on profit selling in heavy-weight stocks in the metal sector.

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The Sensex, which opened nearly 75 points higher, fell back to record a loss of 80.13 points at 17,021.41 at 1300 hrs with metal companies falling as commodity prices declined.

The fall was capped after shares of software exporting firms edged up on dollar firming against the rupee, raising hopes of an improvement in revenues of information technology companies.

The wide-based National Stock Exchange index Nifty fell by 31.25 points to 5,077.65 at the same time. It had touched the day's high of 5,131.30 points.