Sensex, Nifty ends flat; fall after touching ATH

Mumbai, May 24 (UNI) India’s benchmark indices on Friday ended flat amidst weak global cues and profit booking but after both touching all-time high, 30-share BSE sensex recording 75636.50 and Nifty at 23026.40 before sliding.

The BSE sensex closed at 75410.39 losing 7.65 points from its previous close, whereas the Nifty closed with loss of 10.55 points at 22957.10.

Yesterday’s nearly 1200-point rally was propelled by heavy buying by the Foreign Institutional Investors (FIIs) to the tune of Rs 4,671 crore whereas the Domestic Institutional Investors (DIIs) also putting in Rs 146 crore for buying equities yesterday.

Some of the heavy weights including Reliance Industries, TCS, Hindustan Unilever, Infosys, ITC, Sun Pharma, M&M, Titan and Asian Paints pulled the 30-share index down as 21 shares closed in red and only 9 shares including HDFC Bank, Airtel, L&T, Bajaj Finance, Maruti Suzuki gained from their yesterday’s closing.

According to sources in the trading community, the market is likely to remain like this for next few sessions or till the final outcome of Lok Sabha polls. Last two phases of elections would be held on May 25 and last on June 1. Counting is on June 4.

The Sensex opened in red at 75335.45, down 83 points. During the intra-day, it dropped 174 points to 75244.22, day’s low, before closing at 75410.39 points from its previous close. Meanwhile, it was up nearly 218 points at 75636.50 days and all-time high.

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)