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Sensex ends flat after hitting new life-time high

Last updated on: June 10, 2014 16:51 IST
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The benchmark Sensex on Tuesday hit a new lifetime high but pared gains on profit-booking to end with a slim 3.48-point rise at a fresh closing peak of 25,583.69.

Stock markets had opened on a strong note with the 30-scrip BSE Sensex touching a new high of 25,711.11 points in early trade on heavy buying by funds and retail investors.

However, profit booking in realty, oil and gas, capital goods, power and metal stocks pulled the index down to the day's low of 25,347.33 points. It saw a mild recovery before ending at a new closing high of 25,583.69, up 3.48 points or 0.01 per cent.

This was its fourth successive positive closing. The gauge had gained nearly 775 points in the previous three days.

Monday’s, the 30-share benchmark index had hit previous lifetime high of 25,644.77 and ended at record closing high of 25,580.21 on optimism over government's agenda for reforms.

The broad-based NSE Nifty, after soaring to a new intra-day high of 7,683.20, succumbed to selling pressure to close just 1.80 points, or 0.02 per cent, up at 7,656.40 - also a new record closing. It surpassed previous intra-day record of 7,673.70 reached on Monday.

Brokers said investors were booking profits after the market climbed to all-time high and adopted a cautious stance ahead of retail inflation for May and April factory output.

Besides, some worries over below-normal monsoon forecast, too triggered some selling by participants.

In Sensex, 16 losers were led by Axis Bank, SBI, Hero Motorcorp, ICICI Bank, Larsen and Toubro, BHEL, Bajaj Auto, ONGC, Reliance Industries, Sesa Sterlite and HDFC Bank.

The 14 gainers which helped Sensex to close in the positive territory were Infosys, TCS, Wipro, Cipla, Sun Pharma, Hindalco, HUL, Coal India, Tata Motors and HDFC.

Sectorwise, the consumer durables index gained the most by rising 3.55 per cent, followed by IT by 2.32 per cent and healthcare index by 1.97 per cent, among others.

However, the realty index suffered the most by losing 2.96 per cent, followed by PSU index down 1.28 per cent to and oil and gas index slipped 0.96 per cent.

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