Equity benchmarks erased all morning gains with the Nifty falling below 7950, weighed by banks and infra stocks. However, Reliance Industries, HDFC and Infosys continued to support the market.
Japanese shares turned slightly positive, up 0.3 percent as damage from an earthquake appeared moderate, and most other Asian markets rallied as the dollar retreated.
The December target for Sensex is cut to 25,000 from 27,000 due to global macro scenario and not on the back of demonetisation, says Abhay Laijawala, Head of India Research for Deutsche Equities.
