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Stock market today: BSE Sensex and Nifty50, India’s benchmark stock indices, reached record intra-day highs on Monday before closing nearly unchanged due to profit-taking in FMCG and IT shares by cautious investors ahead of the crucial US Fed interest rate decision later this week.
The BSE Sensex closed slightly higher at 81,355.84, its all-time closing high, with 16 of its components advancing and 14 ending lower.The index opened higher and surged 575.71 points to hit a new intra-day record peak of 81,908.43 in late morning deals following a decline in US bond yields. However, investors chose to book profits at record high levels amid high volatility, pulling the index down.
The NSE Nifty ended marginally up at an all-time closing high of 24,836.10. During the day, it jumped 164.9 points to hit a fresh lifetime peak of 24,999.75.
Larsen & Toubro, Bajaj Finserv, Mahindra & Mahindra, UltraTech Cement, State Bank of India, IndusInd Bank, Reliance Industries, and Sun Pharma were among the biggest gainers in the Sensex pack. Bharti Airtel, Titan, ITC, Kotak Mahindra Bank, Tech Mahindra, and HDFC Bank were among the laggards.
Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, settled in positive territory, while European markets were trading on a mixed note. The US markets rallied on Friday.
Vinod Nair, Head of Research at Geojit Financial Services, stated, “An ease in the US personal consumption expenditure to 2.5% and the subsequent drop in the US 10-year yield have fuelled optimism that the Fed might cut rates in September, leading to a global rally. However, profit-booking was triggered in the domestic market given trading in the overbought territory and closed flat.”
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,546.38 crore on Friday, according to exchange data. The global oil benchmark Brent crude declined 0.31 per cent to USD 80.88 a barrel.
The BSE Sensex closed slightly higher at 81,355.84, its all-time closing high, with 16 of its components advancing and 14 ending lower.The index opened higher and surged 575.71 points to hit a new intra-day record peak of 81,908.43 in late morning deals following a decline in US bond yields. However, investors chose to book profits at record high levels amid high volatility, pulling the index down.
The NSE Nifty ended marginally up at an all-time closing high of 24,836.10. During the day, it jumped 164.9 points to hit a fresh lifetime peak of 24,999.75.
Larsen & Toubro, Bajaj Finserv, Mahindra & Mahindra, UltraTech Cement, State Bank of India, IndusInd Bank, Reliance Industries, and Sun Pharma were among the biggest gainers in the Sensex pack. Bharti Airtel, Titan, ITC, Kotak Mahindra Bank, Tech Mahindra, and HDFC Bank were among the laggards.
Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, settled in positive territory, while European markets were trading on a mixed note. The US markets rallied on Friday.
Vinod Nair, Head of Research at Geojit Financial Services, stated, “An ease in the US personal consumption expenditure to 2.5% and the subsequent drop in the US 10-year yield have fuelled optimism that the Fed might cut rates in September, leading to a global rally. However, profit-booking was triggered in the domestic market given trading in the overbought territory and closed flat.”
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,546.38 crore on Friday, according to exchange data. The global oil benchmark Brent crude declined 0.31 per cent to USD 80.88 a barrel.
