Markets pause record run on profit-booking, muted earnings
Markets took a breather after four back to back record-setting sessions as the benchmark Sensex today hit an all-time high of 32,110 but ended with a paltry loss.
But on a weekly basis, both key indices Sensex and Nifty rose significantly by 660.12 points, or 2.10 per cent, and 220.55 points, or 2.28 per cent, respectively, largely driven by the successful rollout of the Goods and Services Tax (GST) and inflation staying subdued, offering the RBI headroom for a lower policy rate at its policy next month.
The broader Nifty also retreated after breaching the 9,900-mark for first time ever.
The Sensex closed at 32,020.75, down 16.63 points, or 0.05 per cent. The index scaled 32,109.75 (intra-day) today to breach its previous all-time intra-day high of 32,091.52 hit yesterday.
The NSE Nifty index finished lower by 5.35 points, or 0.05 per cent, to close at 9,886.35. Intra-day, it went past the 9,900-mark to hit a fresh lifetime high of 9,913.30, breaching its previous intra-day record high of 9,897.25 yesterday.
The Nifty has rallied 225.90 points, or 2.33 per cent, in four straight days of gains.
Nervousness also played on investors' minds following muted earnings posted by the country's largest software exporter TCS yesterday as they booked profit in recent blue- chip gainers.