Sensex, Nifty retreat from record highs to close flat ahead of key US Fed rate decision
The Hindu
Sensex and Nifty hit record highs before closing flat due to profit-taking, with Sensex closing at 81,355.84.
Benchmark indices Sensex and Nifty hit intra-day record high levels before closing almost flat on July 29 due to profit-taking in FMCG and IT shares by cautious investors ahead of the key U.S. Fed interest rate decision later this week.
The 30-share BSE Sensex closed higher by 23.12 points or 0.03% at 81,355.84, its all-time closing high, with 16 of its components advancing and 14 ending lower.
The index opened higher and jumped 575.71 points or 0.70% to hit a new intra-day record peak of 81,908.43 in late-morning deals following a decline in U.S. bond yields. However, investors preferred to book profits at record high levels amid high volatility dragging the index lower to close flat.
The NSE Nifty ended marginally up 1.25 points or 0.01% at an all-time closing high of 24,836.10. During the day, it surged 164.9 points or 0.66% to hit a fresh lifetime peak of 24,999.75.
From the Sensex pack, Larsen & Toubro rose the most by 2.77% after it announced bagging new large orders worth ₹2,500 crore to ₹5,000 crore.
UltraTech Cement, which announced the acquisition of 32.72% stake in India Cements from promoters and their associates for ₹3,954 crore, closed up 1.42%. India Cements closed lower by 0.65%.
Bajaj Finserv, Mahindra & Mahindra, State Bank of India, IndusInd Bank, Reliance Industries and Sun Pharma were among the biggest gainers.