Benchmark indices Sensex and Nifty declined from day's high due to various reasons, including profit booking and selling in IT shares.
At 1:30 pm, the Sensex was down 273.35 points or 0.37% at 73,333.40, and the Nifty was down 70.20 points or 0.31% at 22,683.00. About 2,619 shares advanced, 1,224 shares declined, and 165 shares were unchanged.
Profit booking emerged at higher levels as markets rose for second straight day.
Nifty IT index fell 1.5% on October 27 as Anthropic PBC’s initial public offering filing offered a much-needed sentiment boost to the AI trade, bolstering semiconductor stocks in South Korea and Japan.
Nifty needs to sustain above 22,800 for any bullishness to return to the markets, said analysts.