Sensex off record highs in range-bound trade


Business, Market

The 30-share BSE index had closed at a record high of 31,369.34 yesterday.

The 30-share BSE index traded in negative terrain.

Mumbai: The benchmark Sensex today retreated from its record high by ending lower by 9 points in a range-bound session but recorded gains for the week on GST boost and monsoon progress.

The 30-share BSE index, which had closed at a record high of 31,369.34 yesterday, traded in the negative terrain for the better part of the session and hit a low of 31,286.62 before settling at 31,360.63, down 8.71 points, or 0.03 per cent.

Likewise, the 50-scrip NSE Nifty fell by 8.75 points, or 0.09 per cent, to close at 9,665.80 after shuttling between 9,684.25 and 9,642.65.

On a weekly basis, the Sensex registered a rise of 439.02 points, or 1.41 per cent; while the Nifty gathered 144.90 points, or 1.52 per cent, during the week.

The Sensex had gained 159.55 points in the previous two sessions and hit record closing high yesterday.

The market sentiment took a short-term reversal as investors preferred to keep their positions at a low ebb in view of quarterly earnings, which are due next week onwards.

Stocks of heavyweight RIL soared 3.43 per cent to trade at over nine-year high of Rs 1,490.80.

Lupin Ltd too rallied 3.28 per cent to Rs 1,116.75.

In the Sensex kitty, 20 scrips ended lower while 11 closed higher.

Major losers were ICICI Bank 1.28 per cent, Axis Bank 1.25 per cent, Infosys 1.21 per cent, Asian Paint 1.20 per cent, Hero MotoCorp 1.11 per cent, HDFC Ltd 1.10 per cent, ONGC 1.08 per cent, Bajaj Auto 0.79 per cent, ITC Ltd 0.79 per cent, Maruti 0.66 per cent and TCS 0.54 per cent.

Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 15.29 crore crore yesterday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) had bought shares worth a net Rs 315.95 crore.

Overseas, key indices in Europe like Paris CAC 30 down 0.35 per cent, Frankfurt's DAX shed 0.15 per cent in their late morning deals. Londlon's FTSE too was trading lower by 0.17 per cent.

Most Asian stocks dropped following the lower close on Wall Street yesterday.