Indian stocks edged lower today as investors took a breather after benchmark Sensex hit lifetime high of 28,282.85 and closed with a loss of 14.59 points on profit-booking in IT, realty and oil & gas shares.
Surpassing all previous records, the 30-share BSE barometer resumed higher and rallied to scale a new peak but emergence of profit-booking in recent out-performers at record levels wiped off early gains.
The BSE index finally settled at at 28,163.29, down 14.59 points, or 0.05 per cent — snapping a two-day upmove. Intra-day, it had touched a low of 28119.95.
The gauge’s previous intra-day life high of 28,205.71 and record close of 28,177.88 was logged yesterday. The Sensex had garnered 237.24 points in the previous two sessions.
Likewise, the NSE Nifty after hitting all-time high of 8,454.50, beating previous record of 8,438.10 (intra-day), fell back to close 4.85 points, or 0.06 per cent, down at 8,425.90. Yesterday, it had closed at its record high of 8,430.75.
“Profit booking at current levels and mixed expectations about probable curbs on gold import kept the stocks markets volatile throughout the day,” said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio.
Meanwhile, Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 656.37 crore yesterday, according to provisional data from stock exchanges.
IT, realty, consumer durables, oil & gas, FMCG and healthcare stocks attracted profit-booking, while capital goods, power, metal, auto, banking and PSU shares recorded further gains.
In the 30-share Sensex, 16 stocks declined while 14 rose.
Stocks of HDFC fell 1.90 per cent on concerns the mortgage lender will have to shed some of its holdings in HDFC Bank after FIPB classified the parent’s holdings in the banking arm as foreign investment.
Other Sensex laggards include Sun Pharma (1.94 per cent), Hindalco ( 1.61 per cent), ONGC (1.49 per cent), TCS (1.18 per cent), Cipla (0.81 per cent) and Infosys (0.76 per cent).
In broader markets, sugar company stocks like Shree Renuka Sugar, Balrampur Chini and Dhampur Sugar hogged the limelight on expectations of export subsidy announcement.