Market benchmarks Sensex and Nifty
today closed flat after touching new all-time highs intra-day,
impacted by selling pressure in the wake of July derivatives
expiry and a rush to take profit by investors.
Market benchmarks Sensex and Nifty
today closed flat after touching new all-time highs intra-day,
impacted by selling pressure in the wake of July derivatives
expiry and a rush to take profit by investors.
While the Sensex ended at 32,383.30, a new high, up 0.84
point, after hitting 32,672.66 during the day, the Nifty
settled at 10,020.55, down 0.10 point, after scaling an all-
time peak of 10,114.85.
The early gains for both petered out as earnings by some
blue-chip companies turned out to be disappointing.
The US Fed provided some relief as Chairman Janet Yellen
held the interest rate steady and said it is sticking to the
script of gradual policy tightening. She also said the central
bank is on the path to cut down its massive balancesheet in
coming days.
Sentiment remained strong following fast-changing
developments in Bihar after JD(U) leader Nitish Kumar was
today sworn as chief minister with BJP's support, signalling
stability, traders said.
"FOMC's decision to keep interest rate unchanged kept the
market buoyant in early trade. Political developments in Bihar
boosted prospects for continuing government stability and
strength in the rupee supported positivity. But pressure of
futures and options (F&O) expiry and low rollover numbers
pared the gains," said Anand James, Chief Market Strategist,
Geojit Financial Services.
Drug firm Dr Reddy's plunged 3.29 per cent after the
company reported a 56.61 per cent decline in its consolidated
net profit for the quarter ended June.
TCS, Tata Motors, Bharti Airtel, Infosys and ITC fell by
up to 2.76 per cent, hurting the previous momentum.
Largest mortgage lender HDFC stood out as a bright spot
by climbing 5.83 per cent despite the company reporting a
marginal decline in consolidated net profit for the June
quarter.
Maruti Suzuki rose 0.19 per cent after the automaker
registered 4.4 per cent rise in net profit for April-June.
IT suffered the most by falling 1.76 per cent, followed by
technology, healthcare and metal.
Other Asian markets ended higher amid record closing in
the US and the Federal Reserve's decision to hold the rate.
Foreign portfolio investors (FPIs) sold shares worth Rs
60.60 crore while domestic Investors net bought Rs 676.61
crore of shares yesterday, showed provisional data.
The broader markets too succumbed to profit-booking at
record levels.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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