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Friday, February 26, 2021

Sensex and Nifty snap six-session winning streak; settle marginally lower

Share market today: After rallying 487 points to touch its lifetime intra-day high of 51,835.86, the 30-share BSE Sensex pared all gains to end 19.69 points or 0.04 per cent lower at 51,329.08. Similarly, the broader NSE Nifty slipped 6.50 points or 0.04 per cent to 15,109.30. It touched a record peak of 15,257.10 during the day.

By: PTI | Mumbai |
Updated: February 9, 2021 4:27:07 pm
sensex, sensex share price, s&p bse sensexBSE (Bombay Stock Exchange) at Dalal street. (Express photo by Nirmal Harindran)

Snapping their six-session winning streak, equity benchmarks Sensex and Nifty ended marginally lower on Tuesday amid profit-booking in IT, FMCG and auto stocks.

After rallying 487 points to touch its lifetime intra-day high of 51,835.86, the 30-share BSE Sensex pared all gains to end 19.69 points or 0.04 per cent lower at 51,329.08.

Similarly, the broader NSE Nifty slipped 6.50 points or 0.04 per cent to 15,109.30. It touched a record peak of 15,257.10 during the day.

M&M was the top laggard in the Sensex pack, shedding around 4 per cent, followed by Bajaj Finance, ITC, Sun Pharma, Bajaj Auto, Bajaj Finserv and TCS.

On the other hand, Asian Paints, ONGC, Titan, L&T and Axis Bank were among the gainers.

Domestic equities remained buoyant for most of the session with benchmark indices making fresh highs. However, high volatility was seen towards the end of the session and profit-booking was witnessed in a large number of stocks, experts said.

Broad-based rally was not seen and only select large cap counters supported market, said Binod Modi, Head – Strategy at Reliance Securities. Midcap and smallcap indices underperformed sharply and barring financials most of the key sectoral indices were in red.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with gains, while Seoul closed lower.

Stock exchanges in Europe were trading on a negative note in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.40 per cent higher at USD 60.94 per barrel.

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