Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
After five consecutive sessions of gains, the key Indian equity indices on Wednesday traded on a flat note with marginal losses as investors booked profits in consumer durables, metals and capital goods stocks.
According to market observers, mixed Asian cues along with caution ahead of derivatives expiry on Thursday led to the gloom mood in the market.
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The broader Nifty50 of the National Stock Exchange (NSE) crossed the 11,100-mark on an intra-day basis and scaled a fresh high of 11,110.10 points.
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Around 12.50 p.m., the Nifty50 traded lower by 24.45 points or 0.22 per cent at 11,059.25 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 36,161.62 points, traded at 36,102.29 points — down 37.69 points or 0.10 per cent from its Tuesday’s close.
The Sensex scaled a new high of 36,268.19 points during the intra-day trade.
The BSE market breadth was bearish as 1,899 stocks declined as against 854 advances.
“Indian shares opened mixed on Wednesday on profit taking — after scaling record highs in previous session — ahead of futures and option (F&O) January series expiry tomorrow amid truncated week,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“Asian shares traded mixed following the US markets closing higher as investors stateside focused on earnings release,” said Desai.
On Wednesday, the benchmark indices scaled record highs with the BSE Sensex closing above the 36,000-mark and the NSE Nifty50 above the 11,000-mark for the first time.
The Sensex recorded an intra-day high of 36,170.83 points and closed at new high of 36,139.98 points.
The NSE Nifty50 closed at a fresh high of 11,083.70 points, after scaling an intra-day high of 11,092.90 points.
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