Twitter
Advertisement

Nifty tops 10,000 for a moment, Sensex slips from record

The historic 10,000 level proved to be short-lived today as the Nifty closed with a negative bias and the Sensex lost from its life high after investors went for profit in recent gainers.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

The historic 10,000 level proved to

be short-lived today as the Nifty closed with a negative bias

and the Sensex lost from its life high after investors went

for profit in recent gainers.

The NSE benchmark made history breaching the 10,000 level

for the first time by hitting an all-time high of 10,011.30 at

the outset, led by stronger-than-expected earnings by blue-

chips and continuous buying by foreign funds and domestic

institutions.

But a wave of profit-booking dragged the gauge down by

1.85 points, or 0.02 per cent, to settle at 9,964.55.

Steady monsoon progress and smooth GST take-off had

helped both the key indices scale historic highs, traders

said.

The flagship Sensex climbed to a fresh life high of

32,374.30 before closing down 17.60 points, or 0.05 per cent,

at 32,228.27.

In the last two trading sessions, the key barometer had

gained 341.47 points.

"Market made a historical day by touching 10k supported

by better earnings from blue-chips and strong liquidity.

However, profit booking at higher levels pulled the market to

mild correction due to psychological effect, muted Q1 results

for midcaps and awaiting Fed monetary policy meet," said Vinod

Nair, Head of Research, Geojit Financial Services.

Participants also looked up to US Federal Reserve policy

meeting later today. Key indices in the Asian region lay low.

Major losers include Lupin 1.96 per cent, along with Tata

Motors, Coal India and Sun Pharma.

Asian Paints fell 0.35 per cent after the company today

reported 20.23 per cent decline in consolidated net profit for

the first quarter ended June.

Bharti Airtel surged 1.76 per cent after reports of the

government considering giving telecom companies more time to

pay for the spectrum they bought, in a bid to ease sectoral

stress.

Axis Bank too rose 1.94 per cent, TCS up 1.50 per cent

and Tata Steel 1.03 per cent.

Domestic institutional investors (DIIs) bought shares

worth Rs 668.87 crore while foreign portfolio investors (FPIs)

sold shares to the tune of Rs 366.84 crore yesterday, showed

provisional data.

The capital goods index fell the most. Auto, healthcare

and FMCG too weighed. Sectoral indices such as metal, realty

and banking finished higher.

Broader markets -- the midcap and smallcap indices --

outperformed.

 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement