The 30-share BSE Sensex rose 44.19 points to 65,523.24 after the open. It quickly hit a high of 65,584.33, an increase of 105.28 points.
Post Date – 11:45 AM, Wednesday – July 5
Mumbai: Stock benchmarks climbed early Wednesday, but after unabated record gains over the past few sessions, they gave up all those gains and traded lower as profit-taking emerged.
The 30-share BSE Sensex rose 44.19 points to 65,523.24 after the open. It quickly hit a high of 65,584.33, an increase of 105.28 points.
The NSE Nifty was up 20.4 points at 19,409.40 in early trade. It then hit a high of 19421.60, up 32.6 points.
However, both benchmarks then pared early gains and traded lower amid profit-taking.
BSE quotes fell 65.60 points to 65,413.45 and the Nifty fell 16 points to 19,373.
In the Sensex sector, IndusInd Bank, ICICI Bank, Asian Paints, Larsen & Toubro, Maruti, Bajaj Finance, Hindustan Unilever and Nestle were the biggest gainers.
HDFC Bank, HDFC, Wipro, Bajaj Finserv, Kotak Mahindra Bank, Titan and Axis Bank are among the laggards.
In Asian markets, stocks in Seoul, Tokyo, Shanghai and Hong Kong were lower.
U.S. markets were closed on Tuesday.
Brent crude, the global oil benchmark, fell 0.59% to $75.80 a barrel.
Foreign institutional investors (FIIs) bought shares worth Rs 2,134.33 crore on Tuesday, according to exchange data.
“Markets have rallied sharply to record highs over the past few sessions on the back of strong FII inflows. Investors will focus on the release of the FOMC minutes later today.” Senior Director, Mehta Equities Ltd Vice President (Research) Prashanth Tapse said.
On Tuesday, the BSE benchmark index rose for the fifth consecutive session, rising 274 points, or 0.42%, to close at an all-time closing high of 65,479.05 points. On the day, the benchmark index surged 467.92 points, or 0.71%, to hit an all-time high of 65,672.97.
The Nifty gained 66.45 points, or 0.34 percent, to close at a new record high of 19,389. On the same day, the index rose 111.6 points or 0.57%, hitting an all-time intraday high of 19,434.15 points.
