Thiruvananthapuram

29°C

Haze

Enter word or phrase

Look for articles in

Last Updated Tuesday September 26 2017 10:18 PM IST

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

Text Size
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

Nifty tops 10,000 for a moment, Sensex slips from record A NSE (National Stock Exchange) building is seen in Mumbai. Reuters

Mumbai: 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 percent, 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 percent, 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 percent, along with Tata Motors, Coal India and Sun Pharma.

Asian Paints fell 0.35 percent after the company today reported 20.23 percent decline in consolidated net profit for the first quarter ended June.

Bharti Airtel surged 1.76 percent 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 percent, TCS up 1.50 percent and Tata Steel 1.03 percent.

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.

Read: Business News | Alphabet appoints Google CEO Pichai to board

Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

The opinions expressed here do not reflect those of Malayala Manorama. Legal action under the IT Act will be taken against those making derogatory and obscene statements.

Email ID:

User Name:

User Name:

News Letter News Alert
News Letter News Alert