Indian share prices erased intraday gains to close flat on Friday as Europe's weak opening on global credit concerns rattled investors, dealers said. They said the benchmark 30-share Sensex index appeared headed for a new record intraday high, but the soft European opening alarmed investors.
The Sensex fell 10.64 points to 15,603.8, off sharply from the day's high of 15,824.65. The Sensex's intraday record was 15,868.85 struck on July 24. Losers led gainers 1,744 to 964 on volume of 61.2 billion rupees (1.51 billion dollars).
Maruti Udyog fell 26.3 rupees or 2.95 percent to 865.8 while, Reliance Communications, dropped 7.4 rupees or 1.34 percent to 543.1.India's largest private sector bank ICICI rose 23.3 rupees or 2.64 percent to 907.15.