Sensex retreats from lifetime high, ends 68 pts lower

Last Updated 26 November 2019, 10:46 IST

Retreating from its record peak, market benchmark BSE Sensex ended 68 points lower on Tuesday as investors booked profits at higher levels amid mixed cues from global markets.

After scaling its record intra-day high of 41,120.28, the 30-share BSE Sensex settled 67.93 points, or 0.17 per cent, lower at 40,821.30.

The broader NSE Nifty gave up its life-time peak of 12,132.45 and finished 36.05 points, or 0.30 per cent, down at 12,037.70.

Bharti Airtel was the top loser in the Sensex pack, dropping 4.34 per cent, followed by PowerGrid (2.26 per cent), Sun Pharma (1.75 per cent), M&M (1.67 per cent) and TCS (1.60 per cent).

On the other hand, ICICI Bank rose 2.26 per cent, IndusInd Bank by 1.46 per cent, Tata Steel by 1.17 per cent and ITC by 0.52 per cent.

Analysts said though macros have still not turned positive and corporate earnings growth remains sluggish, investors are enthused by ample liquidity in the system driving transmission, gradual normalisation of risk appetite of banks, unsold housing inventory beginning to correct, PSU banks being recapitalised, NPA cycle peaking out and base becoming easier post-December quarter.

During the day, bourses pared all gains as investors booked profits at higher levels, traders said.

Bourses in Shanghai and Tokyo ended higher, while those in Hong Kong and Seoul settled lower.

Stocks in Europe were trading on a mixed note.

On the currency front, the rupee appreciated 20 paise (intra-day) against the US dollar to 71.53.

Brent futures, the global oil benchmark, rose 0.18 per cent to USD 62.73 per barrel.

(Published 26 November 2019, 10:40 IST)

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