Market extends losing streak for third consecutive session
At close, Sensex was down 502.25 points or 0.62% at 80,182.20, and the Nifty was down 137.15 points or 0.56% at 24,198.85.
The BSE Sensex hit new life-time intra day high of 34,565.63 in opening session on Wednesday, extending its record-setting spree for a fourth session on buying by domestic investors ahead of quarterly results by bluechips.
The 30-share index rose by 122.44 points, or 0.35 per cent, to hit a new peak of 34,565.63, surpassing its previous record (intra-session) of 34,488.03 points hit yesterday.
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The gauge had gained almost 650 points in previous four sessions to close at a record high at 34,443.19 in Tuesday’s session.
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Sectoral indices, led by healthcare, realty, teck, oil & gas, IT and infrastrcuture, were leading the gains.
The 50-share NSE Nifty gained 18.50 points, or 0.17 per cent, to quote at 10,655.50.
The gauge touched an intra-day high of 10,659.15 and closed at record high of 10,637 on Tuesday.
Major gainers were ONGC, Coal India, Bharti Airtel, Sun Pharma, Adani Ports, Reliance Industries, Power Grid, ITC Ltd, Dr Reddy’s, SBI, Infosys, NTPC and TCS, rising by up to 1.40 per cent.
Brokers said fresh buying by domestic institutional investors (DIIs) and retail investors ahead of third quarterly earnings by bluechip companies lifted the flagship Sensex to new highs.
Besides, a firm trend in global markets also boosted sentiments, they said.
Among other Asian markets, Hong Kong’s Hang Seng gained 0.21 per cent, while Shanghai Composite Index rose 0.24 per cent in early trade today. Japan’s Nikkei, however, fell 0.22 per cent.
The US Dow Jones Industrial Average closed at new records ahead of key earnings reports.
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