Market on Thursday | Sensex, Nifty retreat from record highs; media, private banks shine
The Indian equity indices touched fresh record highs on November 27, surpassing the previous high touched on September 27, 2024. The market traded in a positive territory on rising expectations of rate cut by Federal Reserve and Reserve Bank of India in their December policy meetings and possible Russia-Ukraine peace deal.
Indices started the session on a high and extended buying helped BSE Sensex and Nifty 50 touched their new record peak of 86,055.86 and 26,310.45, respectively. However, profit booking in the second half erased most of the gains to close with little change.
BSE Sensex and Nifty surpassed 86,000 and 26,300, respectively, for the first time in intraday trade.
At close, the Sensex was up 110.87 points or 0.13 percent at 85,720.38, and the Nifty was up 10.25 points or 0.04 percent at 26,215.55.
Nifty Midcap 100 index also touched new record high before settling with no change, while Nifty small-cap index shed 0.5 percent.
Nifty Bank index also rallied to fresh record high of 59,866.60, closing 0.35 percent higher at 59,737.30.
On the sectoral front, except media, IT, Private Bank, all other indices ended in the red with oil & gas, realty, consumer durables, energy down 0.5% each.
Bajaj Finance, HUL, Bajaj Finserv, ICICI Bank, Shriram Finance were among major gainers on the Nifty, while losers were Eicher Motors, ONGC, Eternal, Maruti Suzuki, Bajaj Auto.