Sensex erases gains, Nifty breaks 9300; banks, Reliance drag

Epic Update Reliance IndustriesEpic Update Reliance Industries

Equity benchmarks erased all early gains, with the Sensex falling below psychological 30,000-mark, weighed by banks and Reliance Industries.

The 30-share BSE Sensex was down 30.57 points at 29,887.83 and the 50-share NSE Nifty fell 5.40 points to 9,298.65.

Reliance Industries, HDFC Bank, Tata Motors, ICICI Bank and Axis Bank were down 0.5-1.5 percent while HDFC, ONGC, Maruti Suzuki and Hero Motocorp gained 1-2.5 percent.

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