Sensex, Nifty touch record highs but close in red
A benchmark index of Indian equities markets Friday touched a new high of 26,300.17 points before slipping to close trade at 26,126.75 points.
The early gains were wiped out in subsequent sessions and the market closed 145.10 points or 0.55 percent lower with a decline in metal, automobile and bank stocks.
Heavy selling pressure was seen in capital goods, oil and gas and consumer durables sectors.
But healthcare and fast moving consumer goods (FMCG) stocks saw healthy buying.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,257.14 points, closed at 26,126.75 points, down 145.10 points or 0.55 percent from the previous day's close at 26,271.85 points.
The Sensex has touched a high of 26,300.17 points and a low of 26,007.31 points in the intra-trade.
Earlier in the day, Sensex hit a record high of 26,300.17 points for the second consecutive day, surpassing its earlier peak of 26,292.66 points it hit Thursday.
However, S&P BSE metal index tanked by 315.18 points, bank stocks dipped by 239.37 points, automobile index went down by 198.27 points, oil and gas index fell by 173.66 and capital goods index dropped by 173.59 points and consumer durables index was down 119.27 points.
However, healthcare index gained by 225.21 points, FMCG index increased 51.55 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) to touched a new intra-day high of 7,840.95 points before closing at 7,790.45 points, down 40.15 points or 0.51 percent from its previous day's close of 7,830.60 points.
The major Sensex gainers were: Sun Pharma, up 4.23 percent at Rs.779.30; Hindustan Unilever, up 3.07 percent at Rs.662; HDFC, up 2.79 percent at Rs.1,064.35; Hero MotoCorop, up 1.52 percent at Rs.2,574.95; and DrReddys Lab, up 1.30 percent at Rs.2,745.85.
The losers were: Tata Motors, down 4.88 percent at Rs.461.90; Wipro, down 4.59 percent at Rs.550.35; BHEL, down 4.02 percent at Rs.226.85; Hindalco Inds, down 2.91 percent at Rs.191.80; and Tata Power, down 2.51 percent at Rs.100.85.
Among the Asian markets, Japan's Nikkei was up 1.13 percent, while Hong Kong's Heng Seng ended 0.31 percent higher. China's Shanghai Composite Index went 1.02 percent up.
In Europe, London's FTSE 100 was down 0.13 percent, the French CAC 40 was lower by 0.91 percent, and Germany's DAX Index had lost 0.56 percent at the closing bell here.
(Posted on 25-07-2014)