Sensex retreats from record on late sell-off, ends in green
- Author: Zachary Reyes Jun 22, 2017,
Jun 22, 2017, 15:53
Besides, weak global cues and heavy selling pressure in nearly all sectors, led by oil and gas, metal and capital goods, pulled the key equity indices lower. The NSE Nifty, however, ended down 3.60 points, or 0.04%, at 9,630.
However, emergence of profit-booking by participants at record levels forced the Sensex to give up initial gains to slip into the negative territory and touched a low of 31,255.63 but finally settled with a marginal rise of 7.10 points, or 0.02 per cent, at 31,290.74.
The 30-share BSE Sensex was trading 123.16 points up at 31,406.80, while Nifty50 was 32.65 points up at 9,666.25 around 10.30 am (IST).
Market breadth was positive with 964 advances against 323 declines.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.3 per cent. The BSE Mid Cap index gained 0.49 per cent while BSE Small Cap index advanced 0.63 per cent.
Internationally, crude oil plunged into bear phase on Thursday at Dollars 44.82 a barrel after a brief recovery early in the session.
The benchmark BSE index Sensex surged to a record high as steps taken by the capital markets regulator to attract more investments and tackle massive bad loans of banks boosted sentiment.
Asian cues remained mixed. "European indices like FTSE 100, CAC 40 and DAX traded lower".
Indian shares opened slightly higher on Thursday as a rebound in oil prices helped lift shares across Asia and investors digested the minutes of RBI's June policy meeting.
In the trade, buying was seen in equipment, shipping, tyres, power, petrochemicals, retail, tobacco, paints and pigments, telecommunications, cement, leather sectors. "Once again, metals shares were gripped by bears as the metals index on the National Stock Exchange lost more than 1 per cent, in trade today", Lakshmanan added.