Sensex, Nifty give up gains after strong start; still end in the green

The benchmark indices gained sharply in the opening trade on Monday, but failed to sustain gains as investors resorted to profit-booking following a steep rise in the past fortnight. 

After climbing to 34,928 in intra-day trade, the Sensex settled at 34,371 — 557 off the day’s high but 83 points more than the previous close. 

The Nifty index hit an intra-day high of 10,329 before ending at 10,167, up 25 points, or 0.25 per cent. Subdued opening in the European markets, coupled with weakness in index heavyweights — such as Reliance Industries, HDFC Bank, and ITC weighed — on the