Sensex erases early gains on profit selling

Erasing early gains, the Bombay Stock Exchange Benchmark Sensex dipped below the 17,000 levels after losing over 53 points on Thursday on emergence of profit booking at existing higher levels.

Erasing early gains, the Bombay Stock Exchange Benchmark Sensex dipped below the 17,000 levels after losing over 53 points on Thursday on emergence of profit booking at existing higher levels.

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The 30-share Sensex, which had opened nearly 25 points higher, fell back with a loss of 53.11 points to 16,946.90 points in first one hour of trading.

The wide-based National Stock Exchange index Nifty also lost 21.30 points at 5,066.80 points.

The Sensex had gained nearly 750 points in last three trading session.