HomeBusinessSensex, Nifty Snap Three-Day Record-Breaking Streak On Profit Booking

Sensex, Nifty Snap Three-Day Record-Breaking Streak On Profit Booking

Sensex, Nifty Snap Three-Day Record-Breaking Streak On Profit Booking

The Indian fairness benchmarks snapped their three-day record-breaking streak on Wednesday as traders booked revenue at report highs forward of weekly expiry of index futures and possibility contracts, analysts mentioned. Earlier within the day, benchmarks opened larger whereby the Sensex rose as a lot as 366 factors to hit report excessive of 57,918.71 and Nifty 50 index touched an all-time excessive of 17,225.75. HDFC, Infosys, Tata Consultancy Services, Tata Steel, Mahindra & Mahindra and HDFC Bank have been among the many prime drags on the Sensex.

The Sensex fell 214 factors to shut at 57,338 and Nifty 50 index declined 56 factors to settle at 17,076.

“If the Nifty is able to sustain the level of 17,000, it can witness higher levels of 17,250-17,300. The momentum indicators like relative strength index (RSI) and moving average convergence divergence (MACD) are indicating positive outlook to continue,” mentioned Ashis Biswas, head of technical analysis at CapitalVia Global Research.

Ten of 15 sector gauges compiled by the National Stock Exchange ended larger led by the S&P BSE Realty index’s over 5 per cent acquire. Nifty Consumer Durables, PSU Bank, Bank, Private Bank and Media indexes additionally rose between 0.5-2 per cent.

On the opposite hand, Nifty Information Technology, Metal and Pharma indices ended decrease.

Mid- and small-cap shares witnessed shopping for curiosity as Nifty Midcap 100 index rose 0.75 per cent and Nifty Smallcap 100 index superior 0.3 per cent.

Abbott India, Crompton Greaves Consumer Electrical, Dalmia Bharat, Delta Corp, The India Cements, JK Cement, Oberoi Realty and Persistent Systems jumped in commerce on Wednesday after the National Stock Exchange in a round mentioned that these shares will likely be added to futures and choices phase from the beginning of October collection.

Mahindra & Mahindra was tip Nifty loser, the inventory rose practically 3 per cent to shut at Rs 770. Cipla, Tata Steel, Hindalco, Bajaj Finserv, Tata Consultancy Services, HDFC, Infosys, JSW Steel, HCL Technologies, Grasim Industries and Tech Mahindra additionally fell between 1-2.7 per cent.

On the flipside, Asian Paints, Tata Motors, SBI Life, Nestle India, Axis Bank, Titan, Dr Reddy’s Labs, Bharat Petroleum, UPL and Larsen & Toubro have been among the many gainers.

The total market breadth was impartial as 1,513 shares ended larger whereas 1,664 closed decrease on the BSE.

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