The market erased its gains in afternoon trade, weighed down by index heavyweights like Reliance Industries, ICICI Bank, TCS and Infosys. The broader markets also lost early gains to trade flat. The 30-share BSE Sensex rose 40.58 points to 26631.17 and the 50-share NSE Nifty gained 3.50 points at 8064.20. The market breadth was marginally positive as about 1350 shares advanced against 1228 declining shares on the BSE. Jain Irrigation rallied 6 percent as the company told CNBC-TV18 that it is looking to sell some stake in food subsidiary and that the process is on to sell stake. The company also won order worth Rs 473 crore from Maharashtra Electricity Board. DLF gained 3 percent after the Supreme Court allowed company to continue selling stake in rental arm. The company had sought to sell 40 percent stake in rental arm.
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