Day 1 on Sensex: Lupin erases early gains on profit-booking

Shares of drugmaker Lupin gave up all the initial gains and fell on profit-booking as the stock became part of the BSE benchmark Sensex from today.
After rising 1.91 per cent to Rs 1,851.15 in intra-day trade, shares of Lupin succumbed to profit-booking and finally ended at Rs 1,811.10, down 0.29 per cent on BSE.
On the NSE, the stock settled 0.58 per cent lower at Rs 1,806.20.
Lupin replaced private sector electricity producer Tata Power. Shares of Tata Power, however, rose by 3.33 per cent to close the day at Rs 74.55 on the BSE.
Since May 22, when the announcement was made by BSE, shares of Tata Power had lost nearly 5 per cent, while Lupin gained 4.6 per cent.

The 30-stock Sensex closed with a sharp gain of 414.04 points at 27,730.21.