Sharp fall in domestic stock market also affected the rupee sentiment.
The 30-share Sensex ended down 32 points at 28,851 and the 50-share Nifty closed 12 points lower at 8,712.
L&T was the top gainer in the Sensex pack, rallying over 4 per cent, followed by Dr Reddy's, Sun Pharma, NTPC, IndusInd Bank, PowerGrid, ONGC and M&M. NSE Nifty jumped 119.20 points to 14,942.35.
Global funds have pumped in over Rs 38,000 crore (about $5.5 billion) into domestic equities since February 20, helping the Sensex rebound 2,671 points, or 7.6 per cent, from its 2019 low.
Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to provide "relief to the poorer households and small and medium enterprises," he said. And then move on to getting the economy back on track.
Gross refining margins may decline sequentially but improving petro-chem margins will boost earnings
Among major Sensex movers, Ultratech Cement rose over 4 per cent, Bajaj Finance by 2.63 per cent and Maruti by 2 per cent. BSE Sensex closed up by 133.14 points at a record high of 47,746.22. NSE Nifty rose by 49.35 points at its lifetime high of 13,981.95.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
Equity benchmark Sensex rallied 487 points on Monday to close at a fresh lifetime peak, tracking gains in Infosys, HDFC twins and HCL Tech amid massive foreign fund inflows.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
At a time when the whole world is going ga-ga over stocks and debt is too easy to borrow, do not forget gold, says Anil Rego.
Emerging markets could be affected by a combination of lower liquidity and higher dollar interest rates caused by a hike in the US Fed funds rate.
HCL Tech was the top loser in the Sensex pack, shedding around 4 per cent, followed by Infosys, Dr Reddy's, TCS, Reliance Industries, Tech Mahindra and NTPC. NSE Nifty slumped 163.45 points to 14,557.85.
The rupee on Tuesday recovered from its two-week low to end steady at 66.60 against the American currency, inching up by a paisa on the back of mild dollar selling.
It is useful to note that Indian markets have not gone into a tailspin as the Greece crisis has developed, says Devangshu Datta.
Sensex, Nifty slightly upbeat, midcaps to rule markets this week.
Investors booked profits at higher levels with oil shares leading the decline
Sensex in green, JSW climbs higher.
M&M was the top gainer in the Sensex pack, rallying around 6 per cent, followed by SBI, ITC, NTPC, Bharti Airtel and ONGC. On the other hand, Bajaj Finance, HDFC, Bajaj Finserv, Titan, Sun Pharma and Dr Reddy's were among the laggards. NSE Nifty inched up 1.40 points to its fresh closing record of 14,564.85.
Continuing its range-bound movement for the fourth session, the rupee today closed up by two paise at 59.25 ahead of industrial output and retail inflation data.
The index had risen over 585 points in the previous three sessions.
US crude is now more than 17 per cent below its opening price at the start of the month and Brent is down more than 16 per cent.
Technology stocks rallied, with the IT index up 2.45 per cent as TCS, Infosys, Wipro and HCL Technologies spurted following favourable rupee movement.
Through the IPO, Burger King has raised Rs 450 crore, which will be used to rollout new outlets and retire debt.
The S&P BSE Sensex gained 120 points to close at 25,774.
The Sensex surged 424.06 points to end above 25,300 at 25317.87.
Traders are waiting for the earnings season to kick off.
India's fuel sales surged past pre-pandemic levels in March on twin impact of the economy rebounding from the lifting of pandemic-related restrictions and anticipation of price increases leading to stocking. In the first two weeks of March, dealers, as well as the public, topped up their tanks in anticipation of an increase in prices that had been on hold in the run-up to the elections in states like Uttar Pradesh. While daily price revisions restarted on March 22, the increases were calibrated.
US dollar was firm against global currencies in overseas markets on rising prospects for a rate hike by US Federal Bank, which hit the rupee sentiment
Participants are keeping an eye on the Winter Session of Parliament, which started today, and US fiscal policies to be followed by President-elect Donald Trump
Chinese stocks plummeted 9 per cent on Monday
The broader NSE Nifty too fell over 150 points to crack below the 10,400-mark as financials, IT and energy stocks declined.
UBS, Credit Suisse see emerging markets doing well next year, but expect India to underperform, given its rich valuations.
The rupee had recovered from its 29-month lows by rising 39 paise to close at 67.63 on Friday.
ONGC was the top loser in the Sensex pack, shedding around 5 per cent, followed by Sun Pharma, PowerGrid, Bajaj Finance, IndusInd Bank, Dr Reddy's and Maruti. On the other hand, Reliance Industries, Titan, HDFC Bank and ITC were the gainers.
Stockmarket Gurus Raamdeo Agrawal, Manish Gunwani, S Naren and Nilesh Shah discuss their favourite themes for the New Year.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
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