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Equity Markets Trade Flat, Sensex, Nifty Touch New Intra-Day Highs

Monday, May 29, 2017
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MUMBAI: Indian equity markets traded on a flat-to-positive note during the mid-afternoon trade session on Monday as healthy buying was witnessed in consumer durables and FMCG stocks.

The key indices touched new intra-day highs, with the NSE Nifty scaling 9,622.30 points and the BSE Sensex 31,155.40 points.

However, the indices receded from their highs as investors booked profits and healthcare, banking and IT sectors continued to extend losses.

At 12.53 p.m., the wider 51-scrip NSE Nifty was up by 6.15 points or 0.06 pct to trade at 9,601.25 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,944.38 points, traded at 31,083.93 points -- up 55.72 points or 0.18 pct from its previous close at 31,028.21 points. 

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the equity benchmark indices started off the first day of the week on a slightly negative note tracking mixed global cues and firm opening of USD/INR futures.

"Indian equity markets witnessed volatility in early trades as, after touching all time high levels, both the indices slipped in negative territory mainly due to profit booking," Desai told IANS.

"Sun Pharmaceuticals Industries shares fell 10 pct after the company reported a 13.6 pct year-on-year drop in its consolidated net profit to Rs 1,223.71 crore in the quarter ended March. Banking stocks currently pressurised the market sentiments, led by Bank of India, PNB and Federal bank with more than 2 pct intra-day downside."

On Friday, the equity markets ended in a celebratory mood as healthy pick-up in heavyweight stocks of Reliance Industries, Tata Steel and ITC lifted the BSE Sensex and the NSE Nifty to touch fresh record highs of 31,000 and 9,600 points mark, respectively.

The 30-scrip Sensitive Index (Sensex) of the BSE crossed the 31,000-mark for the first time in its history to close at a new high of 31,028.21 points, after touching a new 52-week high of 31,074.07 points.

The Nifty, too, surged and for the first time touched the 9,600-mark. The index ended at a new high of 9,595.10 points after touching a fresh intra-day high of 9,604.90 points.

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Source: IANS
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