Sensex, Nifty draw back from lifetime highs on profit taking; HDFC Bank, ICICI major laggards
The Hindu
Sensex and Nifty retreat from record highs due to profit-taking in HDFC Bank and ICICI Bank stocks.
Benchmark stock indices Sensex and Nifty retracted from lifetime highs to settle lower on Friday (September 27, 2024) due to profit-taking in frontline stocks HDFC Bank and ICICI Bank.
The BSE Sensex declined 264.27 points or 0.31% to settle at 85,571.85. During the day, it climbed 142.13 points or 0.16% to reach a new record intra-day peak of 85,978.25.
The NSE Nifty dipped 37.10 points or 0.14% to 26,178.95 after rising 61.3 points or 0.23% to an all-time intra-day high of 26,277.35 during the day.
From the 30 Sensex firms, Power Grid, ICICI Bank, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Larsen & Toubro, Adani Ports and UltraTech Cement were among the laggards.
Sun Pharma, Reliance Industries, Titan, HCL Technologies and Bajaj Finserv were among the biggest gainers.
"Following the recent impressive surge, the benchmark indices experienced a sideways movement today as investors engaged in profit booking at elevated levels," Vinod Nair, Head of Research, Geojit Financial Services said.
In Asian markets, Tokyo, Shanghai, and Hong Kong settled sharply higher while Seoul ended lower. European markets were trading in the green. The U.S. markets ended in positive territory on Thursday (September 26, 2024.)
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