Sensex scales 76000 peak, Nifty hits new high before closing lower; RIL, ITC biggest drag
The Hindu
Stock market closes mixed with Sensex hitting record high of 76,009.68 before profit booking; Nifty ends at 22,932.45.
Sensex scaled the 76,000 level for the first time while Nifty hit a new lifetime peak before closing marginally down in highly volatile trade on Monday as investors booked profits in the last 30 minutes of trade.
The 30-share BSE Sensex closed lower by 19.89 points or 0.03% lower at 75,390.50. Intra-day, the barometer climbed 599.29 points or 0.79% to an all-time peak of 76,009.68 following gains in select banking, financial and IT shares. However, investors preferred to book profits at record levels and the index declined around 835 points from the day's high to hit a low of 75,175.27.
Broader Nifty of the NSE declined by 24.65 points or 0.11%, to end at 22,932.45. The 50-issue barometer rose by 153.7 points or 0.66% to hit a new lifetime high of 23,110.80 during the day. However, it tanked around 240 points at the fag-end due to selling in oil, energy and FMCG shares.
Index heavyweight Reliance Industries declined nearly 1%, dragging the benchmark indices into the negative. Selling in FMCG giant ITC also eroded gains.
Equity benchmarks were on a record-breaking rally for the third straight day ahead of the results of Lok Sabha polls and a rally in global markers. The results of the ongoing general elections will be declared on June 4.
Sensex breached the historic 75,000-mark for the first time on April 9. It took 31 trading sessions for the benchmark to climb 1,000 points to reach the 76,000-mark on Monday. The BSE benchmark took 21 trading sessions to reach 75,000-mark on April 9 after hitting the 74,000-level on March 6.
From the Sensex firms, Wipro, NTPC, Sun Pharma, Mahindra & Mahindra, ITC and Reliance Industries were among the biggest laggards.
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