Markets snap record-breaking rally as profit-booking hammers banking, finance stocks
The Hindu
After hitting fresh all-time high level in early trade, the 30-share index declined 210.45 points or 0.27% to settle at 79,032.73.
Market benchmarks Sensex and Nifty halted their three-day record-hitting rally to close with losses on June 28 as investors booked profit in banking, finance and tech stocks despite a positive trend in global equities.
Snapping a four-session winning run, equity indices succumbed to selling pressure after mid-session when profit-taking emerged on few counters.
After hitting fresh all-time high level in early trade, the 30-share index declined 210.45 points or 0.27% to settle at 79,032.73. During the day, it jumped 428.4 points or 0.54% to hit a fresh record peak of 79,671.58.
The Nifty went lower by 33.90 points or 0.14% to 24,010.60. During the day, it climbed 129.5 points or 0.53% to hit a new lifetime high of 24,174.
The Sensex breached the historic 79,000 mark on Thursday and the Nifty hit the 24,000 level for the first time in intra-day trade.
In the past four trading days, the BSE benchmark jumped 2,033.28 points or 2.63%.
Among the 30 Sensex companies, IndusInd Bank, Axis Bank, ICICI Bank, Bharti Airtel, Kotak Mahindra Bank, Maruti, JSW Steel and Bajaj Finserv were among the laggards.
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