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Markets erase opening gains to turn red; Nifty trades below 9,550

S&P BSE Midcap and the S&P BSE Smallcap indices underperformed to shed 0.6% and 0.4%, respectively

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SI Reporter New Delhi
Benchmark indices opened higher but later pared gains to trade lower tracking muted handover from global markets. Investors also stayed cautious ahead of F&O expiry due this week and GST rollout lined up for June 30 midnight.
 
At 12:15 pm, the S&P BSE Sensex was trading at 31,005, down 132 points, while the broader Nifty50 was ruling at 9,527, down 47 points.
 
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices underperformed to shed 0.6% and 0.4%, respectively.

"Direct fall below 9,530/9,500 could usher in sharp long liquidation, which is less expected,