Nifty at fresh high, Sensex retreats

Nifty at fresh high, Sensex retreats
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Mumbai: The broader NSE benchmark Nifty advanced further to settle at an all-time high for the third straight session on Friday, while the BSE gauge...

Mumbai: The broader NSE benchmark Nifty advanced further to settle at an all-time high for the third straight session on Friday, while the BSE gauge Sensex retreated from the record to slip below the 80k mark, as investors were indecisive at the current levels.

In a volatile session, the broader NSE Nifty continued its record-breaking run and inched up 21.70 points or 0.09 per cent to close at its lifetime high of 24,323.85 points, helped by fag-end buying on select counters. The 30-share BSE Sensex dropped 53.07 points or 0.07 per cent to settle at 79,996.60, indicating market indecisiveness.

“Nifty traded in negative territory throughout the day. However, recovery in the last half hour of the session helped indices to close with minor gains,” said Siddhartha Khemka, head (retail research), Motilal Oswal Financial Services Ltd. A total of 2,242 stocks advanced, while 1,686 declined and 88 remained unchanged on the BSE. As many as 34 Nifty shares advanced, and 16 declined. “The domestic market traded with a mixed bias, with the heavy-weight banking sector acting as a laggard. Adding to the worry are the top lending banks, which recorded a sequential decline in deposit growth in the June quarter.

Midcap and Small Cap outperformed, and the respective BSE indices hit an all-time high,” added Vinod Nair, head (research) at Geojit Financial Services. On a weekly basis, the BSE Sensex jumped 963.87 points or 1.21 per cent, and Nifty gained 313.25 points. Among the 30-share Sensex pack, State Bank of India, Reliance Industries, Hindustan Unilever, NTPC, Larsen & Toubro, Nestle India, Power Grid, ITC, JSW Steel and Sun Pharmaceuticals were the major gainers. On the other hand, HDFC Bank, Titan, Mahindra & Mahindra, IndusInd Bank, UltraTech Cement, Tata Motors, HCL Technologies and Asian Paints were among the laggards.

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