scorecardresearch
Follow Us:
Wednesday, March 03, 2021

Sensex slips 167 points amid profit booking after hitting 50,000-mark

Share Market Today: Earlier in the day, the Sensex surged 391.89 points (0.79 per cent) to hit a record high of 50,184.01, however, a selloff in the late afternoon session led the BSE benchmark to give up the 50,000-mark and slip marginally.

By: Express Web Desk | New Delhi |
Updated: January 21, 2021 5:39:06 pm
Indian stock market, Union Budget 2021, Sensex, Kotak Securities, BSE, share market, nse, FII investments, domestic stock market, benchmark Sensex plunging, indian express, business newsDriven by the improved investor sentiment, the market capitalisation of BSE-listed companies is also making new records and is currently at over Rs 194 lakh crore. (File)

The S&P BSE Sensex ended 167.36 points (0.34 per cent) lower at 49,624.76 after breaching the 50,000-mark for the first time ever in the intraday trade on Thursday.

Earlier in the day, the Sensex surged 391.89 points (0.79 per cent) to hit a record high of 50,184.01, however, a selloff in the late afternoon session led the BSE benchmark to give up the 50,000-mark and slip marginally.

Likewise, the broader Nifty 50 on the National Stock Exchange (NSE) too had climbed 108.85 points (0.74 per cent) to touch a new lifetime high of 14,753.55 in intraday but ended 54.35 points (0.37 per cent) lower at 14,590.35.

Reacting to the Sensex’s record rally earlier in the day, Nilesh Shah, Group President & MD at Kotak Mahindra Asset Management Company said, “Sensex touching 50,000 in 2021 is like Indian cricket team winning test series in Australia against all odds of Covid 19. While economic data is about the past which is improving month on month, Sensex is reflecting the positivity about the future.”

Oil and Natural Gas Corporation (ONGC), Bharti Airtel, State Bank of India (SBI), IndusInd Bank, NTPC and Sun Pharmaceutical Industries were the top drags on Thursday, while Bajaj Finance, Bajaj Auto, Reliance Industries (RIL), Bajaj Finserv, Asian Paints and Hindustan Unilever (HUL) were the top gainers. see heatmap below

Gainers and losers of the day on the Sensex. (Source: BSE)

All sectoral indices on the NSE ended lower on Thursday. the Nifty PSU Bank was the worst performer of the day slipping 3.27 per cent weighed by shares of Bank of Maharashtra and Indian Bank. Separately, the Nifty Realty index slipped 2.56 per cent on Thursday dragged by Indiabulls Real Estate and Prestige Estates Projects. The Nifty Metal index too fell 2.18 per cent weighed by Hindustan Zinc and NMDC.

Here’s how the sectoral indices performed:

Sectoral losers of the day on the National Stock Exchange. (Source: NSE)

In the broader market, the S&P BSE MidCap index declined 168.00 points (0.88 per cent) to end at 18,988.32, while the S&P BSE SmallCap settled at 18,615.10, down 128.29 points (0.68 per cent).

Global market

Asian stocks rose to new record highs on Thursday, tracking US markets as investors hoped for more economic stimulus from newly inaugurated US President Joe Biden to offset damage wreaked by the COVID-19 pandemic.

Republicans in the US Congress have indicated they are willing to work with the new president on his administration’s top priority, a $1.9 trillion US fiscal stimulus plan, but some are opposed to the plan’s price tag.

MSCI’s broadest index of Asia-Pacific shares outside Japan touched record highs and was last up 0.85 per cent, with markets across the region posting gains.

Chinese blue-chips added 1.2 per cent, Australian shares climbed 0.69 per cent and Hong Kong’s Hang Seng breached the 30,000 level, rising 0.31 per cent.

Japan’s Nikkei was up 0.72 per cent, less than 1 per cent off three-decade highs reached last week.

The rises in Asia followed fresh record highs on Wall Street overnight. The Dow Jones Industrial Average rose 0.83 per cent, the S&P 500 gained 1.39 per cent and the Nasdaq Composite added 1.97 per cent. On Thursday, e-mini futures for the S&P 500 ticked up to new records and were last up 0.26 per cent.

–global market input from Reuters

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement