The Indian equity benchmarks erased intraday gains in noon deals on the back of selling pressure in HDFC, Bajaj Finance, Larsen & Toubro, Infosys, Bajaj Finserv and Bharti Airtel. The Sensex fell as much as 729 points from day's highest level and Nifty 50 index touched an intraday low of 17,704 after hitting high of 17,905 during the session.