Markets give up early gains; trade lower on profit-taking
The Hindu
Mkt indices rose in early trade but later gave up gains due to profit-taking & muted US mkt. Sensex fell 214.84 pts to 66,687.07 & Nifty 55.80 pts to 20,040.80. Major gainers: UltraTech Cement, Mahindra & Mahindra, Axis Bank, Wipro, HUL, Sun Pharma, Kotak Mahindra Bank & L&T. Asian mkt mixed, US mkt mostly lower. Brent crude down 0.18%. FIIs bought ₹71.91 cr. BSE benchmark jumped 727.71 pts to 66,901.91 & Nifty 206.90 pts to 20,096.60.
Equity benchmark indices climbed in early trade on Thursday but later gave up all the gains to quote lower on emergence of profit-taking amid the scheduled monthly derivatives expiry and muted trend in the US markets.
The 30-share BSE Sensex climbed 118.2 points to 67,020.11 in early trade. The Nifty went up by 39.55 points to 20,136.15.
Later, both the benchmark indices gave up all the early gains and were trading lower. The Sensex traded 214.84 points lower at 66,687.07 while the Nifty fell 55.80 points to 20,040.80.
Among the Sensex firms, UltraTech Cement, Mahindra & Mahindra, Axis Bank, Wipro, Hindustan Unilever, Sun Pharma, Kotak Mahindra Bank and Larsen & Toubro were the major gainers.
Tata Steel, Reliance Industries, Tata Motors and NTPC were among the laggards.
In Asian markets, Shanghai and Hong Kong traded with gains, while Seoul and Tokyo quoted in the negative territory.
The US markets ended mostly lower on Wednesday.
The Opposition Congress demanded that the government open the Gandhi Vatika Museum, depicting Mahatma Gandhi’s legacy and freedom struggle, built at a cost of ₹85 crore in Jaipur’s Central Park last year, during the Congress-led regime in Rajasthan. The museum has not been opened to the public, reportedly because of the administration’s engagements with the State Assembly and Lok Sabha elections.
Almaya Munnettam (Lay People to the Fore), group in the Ernakulam-Angamaly Archdiocese of the Syro-Malabar Church opposed to the synod-recommended Mass, rejected a circular issued by Major Archbishop Raphael Thattil and apostolic administrator Bosco Puthur on June 9 to implement the unified Mass in the archdiocese from July 3.
Pakistan coach Gary Kirsten stated that “not so great decision making” contributed to his side’s defeat to India in the Group-A T20 World Cup clash here on Sunday. The batting unit came apart in the chase, after being well placed at 72 for two. With 48 runs needed from eight overs, Pakistan found a way to panic and lose. “Maybe not so great decision making,” Kirsten said at the post-match press conference, when asked to explain the loss.