Sensex, Nifty Snap Three-Day Record Breaking Streak On Profit Booking
NDTV
The Sensex fell as much as 866 points from record high and Nifty touched an intraday low of 17,537.65. India VIX, the fear index rose over 7 per cent.
The S&P BSE Sensex and NSE Nifty 50 indexes snapped their three-day record-breaking streak as investors booked profits in recent outperforming state-run banking, metal, information technology, FMCG and pharma shares ahead of the weekend as volatility spiked. Earlier in the day, Sensex rose as much as 596 points to hit an intraday high of 59,737.32 and Nifty 50 index touched an all-time high of 17,792.95. The Sensex fell as much as 866 points from record high and Nifty touched an intraday low of 17,537.65. India VIX, the fear index rose over 7 per cent.
The Sensex declined 125 points or 0.2 per cent to close at 59,015.89 and Nifty 50 index fell 44 points or 0.25 per cent to end at 17,629.
"Nifty witnessed a small correction and failed to hold the level of 17600. The market data suggests that 17,450-17,500 will be an important support zone for Nifty to stay positive in the short term. If the market is able to sustain the level of 17,450-17,500, market can witness levels of 17,850," said Ashis Biswas, head of technical research at CapitalVia Global Research.
Selling pressure was broad-based as nine of 15 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty PSU Bank index's nearly 3 per cent decline. Metal, Realty, Healthcare, Pharma, Oil & Gas, Information Technology and FMCG indices also fell between 0.5-2.4 per cent.
