Benchmark Indices Sensex And Nifty Pare Gains Amid Profit Booking

Indian benchmark indices <b>Sensex</b> and <b>Nifty</b> significantly pared their early gains during afternoon trade on November 11 due to profit booking. The markets slipped from their day's highs after hitting an eight-month peak earlier in the session. Profit booking emerged at higher levels as key indices soared up to 10.5 percent so far in November. Information technology, real estate, and select pharmaceutical shares turned red, while Bank Nifty fell over 500 points from its peak. Meanwhile, select banks like HDFC Bank and Axis Bank cushioned the broader losses. Investors locked in gains following a strong monthly rally that outperformed emerging market peers. Analysts and market reports indicate that the ongoing selling pressure and sector-specific weakness triggered the sharp intraday reversal from record levels.