Mumbai: The BSE Sensex extended losses to more than 1% by afternoon in volatile trade on Wednesday, as investors locked in profits after a recent rally amid political uncertainties ahead of general election results.
At 2:36pm, the 30-share BSE index was down 1.03% at 12,005.84 points, with 20 stocks falling. It had earlier risen more than 1%. The 50-share NSE index was down 0.87% at 3,630.90 points.
After a weak start, the Bombay Stock Exchange benchmark Sensex recovered to gain nearly 96 points at midsession today after funds resumed buying at attractive, low levels.
With the steep rise in heavyweight stocks, the National Stock Exchange index Nifty crossed 3,700 points after almost seven months.
The Sensex, which had commenced the day lower by 90.45 points, wiped off the losses to trade higher by 95.74 points at 12,226.82 at 1:00pm, mainly on the back of the stocks of Reliance Industries, SBI, Larsen & Toubro, and Infosys.
Similarly, the wide-based Nifty rose 42.20 points at 3,704.10 at the same time. The index had opened 24.30 points lower.
Marketmen said funds and general investors picked fundamentally strong shares at lower levels.