The domestic stock markets ended lower on Tuesday after making the historic record highs. The NSE Nifty clocked the most awaited five-digit mark of 10,000 today but closed below the magical mark.
The domestic stock markets ended lower on Tuesday after making the historic record highs. The NSE Nifty clocked the most awaited five-digit mark of 10,000 today but closed below the magical mark. Nifty 50 ended in red after giving away all the morning gains at 9,964.55 points. BSE Sensex too edged down in the late trade, ended 17 points lower at 32,228.27 points. Indian equities slipped from record highs and ended in red the as market participants turned cautious ahead of the major earnings due later today and the upcoming outcome of US Federal Reserve meeting which is also set for today.
Indian markets marked the iconic moment in the history on Tuesday as the broader Nifty 50 index clocked the most awaited five-digit figure of 10,000. Nifty rose 44 points from its previous close on Monday to breach the phenomenal five-digit figure of 10,000. The 50-share barometer opened 0.44% higher at 10,010.55 points today while the oldest Indian benchmark Sensex gained over 100 points to mark a new lifetime high of 32,374.3 points.
Shares of Vedanta the Indian unit of diversified energy group Vedanta Resources PLC rose as much as 4.21% to Rs 275.75 ended in the lead. The company today reported a 102% jump in quarterly consolidated profit, driven by better margins across most of the metals the company mines.
The other top gainers in the index are Indiabulls Housing Finance (up 3.42%), Hindalco (up 2.96%), Axis Bank (up 2.36%), TCS (up 1.91%), Bharti Airtel (up 1.77%) while 26 out of 51 scrips of Nifty ended in the red. Shares of Tata Motors (down 1.68%), Lupin (down 1.76%), Tech Mahindra (down 1.98%), Ultratech Cement (down 2.32%) and Zee Entertainment (down 2.96%) ended lower. The major drag on the index was due to the heavyweight shares of Reliance Industries, Tata Motors, Indian Oil Company and ITC.
However, Nifty and Sensex were not the only indices that cheered as 16 other broad market and sectoral indices joined in the jubilations. Nifty Bank, which represents the banking industry heavyweights, hit the record high for the second consecutive day. India’s most valuable lender HDFC Bank too hit the record high of Rs 1,759 pushed the index to gain 0.83% to hit a new all-time of 24,624.65 points.