Sensex, Nifty settle marginally down on profit-taking ahead of key results

The BSE Sensex closed closed lower by 27.43 points at 79,897.34 while The NSE Nifty edged down 8.50 points at 24,315.95.
Last Updated : 11 July 2024, 10:40 IST

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Mumbai: Benchmark Sensex and Nifty closed marginally down in a volatile session on Thursday as investors booked profits in heavyweights ahead of the announcement of key financial results for the June quarter.

Retreating from early highs, the 30-share BSE Sensex closed lower by 27.43 points or 0.03 per cent at 79,897.34. The index climbed 245.32 points to hit a high of 80,170.09 in early trade but later lost momentum due to selling in index heavyweights. The barometer hit a day's low of 79,464.38, down by 460.39 points from the last close.

The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95. The broader index gyrated between a high of 24,402.65 and a low of 24,193.75 in day trade.

"The main indices are trading in a narrow range, struggling to justify its premium valuation ahead of the Q1 earnings season, which is forecast to be subdued," Vinod Nair, Head of Research, Geojit Financial Services said.

Among Sensex shares, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, Nestle, NTPC, Power Grid, NTPC, UltraTech Cement and Larsen & Toubro were the biggest laggards.

The prominent gainers were ITC, Tata Motors, Asian Paints and Titan.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled higher. European markets were trading in positive territory. US markets ended significantly higher on Wednesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 583.96 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.21 per cent to USD 85.26 a barrel.

The BSE benchmark closed lower by 426.87 points or 0.53 per cent at 79,924.77 on Wednesday. The NSE Nifty dropped 108.75 points or 0.45 per cent to settle at 24,324.45.

Both the benchmark indices had hit their record high levels in opening deals on Wednesday.

Published 11 July 2024, 10:40 IST

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