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Nifty snaps 4 day rally, hits lifetime peak of 7,754.65

Thursday, 3 July 2014 - 7:38pm IST | Place: Mumbai | Agency: PTI
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The benchmark Nifty scaled a fresh lifetime peak of 7,754.65 in early trade but succumbed to profit booking and ended with modest losses today, snapping a four-day rally at the National Stock Exchange (NSE).

The index opened up and surged to a new all-time high but profit booking in energy, banking, infra and metal counters pulled it down. Shares of mid and small-cap companies also posted losses.

However, select pharma, auto and IT scrips witnessed buying interest and prevented the market from further fall. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1290.68 crore yesterday, as per provisional data from the stock exchanges.

Asian stocks ended mixed before the release of key US jobs data.

The 50-share Nifty opened up at 7,734.35 and traded between a high of 7,754.65 and a low of 7,706.80 before ending at 7,714.80, down 10.35 points, or 0.13 per cent, over its last close.

Two-wheeler major HeroMoto declined 3.41 per cent, Hindalco 2.52 percent, Tata Power 2.33 per cent, Bajaj Auto 2.12 per cent and ONGC lost 1.98 per cent. Other top laggards were IndusInd Bank, HUL, Cairn, IDFC and DLF.

However, Tata Motors gained 3.06 per cent, Wipro 2.71 per cent and Sun Pharma was up 1.94 per cent.Turnover in the cash segment eased to Rs 19,466.89 crore from Rs 19,477.25 crore yesterday. A total of 10,976.20 lakh shares changed hands in 75,63,989 trades, while the market capitalisation stood at Rs 89,83,596 crore.




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