Stock Market: Sensex, Nifty pare early gains on energy, auto stock sell-off; Tata Steel, Indiabulls Real Estate stocks gain
The BSE Sensex closed 7 points lower after making a record high of 41,809.96 in the Opening Bell trade session. The 50-stocks Nifty index added 12 points after the Closing Bell and closed at 12,271.80 levels after hitting its all-time high of 12,293.90 in the morning trade session.
Stock Market News: After soaring to its record high on fourth successive trade session, the BSE Sensex and 50-stock Nifty lost the early gains after profit-booking triggered in energy and auto stocks. The BSE Sensex closed 7 points lower after making a record high of 41,809.96 in the Opening Bell trade session. The 50-stocks Nifty index added 12 points after the Closing Bell and closed at 12,271.80 levels after hitting its all-time high of 12,293.90 in the morning trade session. Bank Nifty shot up 143 points and closed at 32,384.95 levels.
Speaking on the current market scenario SEBI registered technical equity analyst Simi Bhaumik said, "The market is moving in the range of 11,970 to 12,300 levels. Bullish or bearish trend can be decided on the breaking of either side of the levels." However, she advised stock market investors to go stock specific rather index or sector-specific.
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Shares of Jamna Auto Industries, Reliance Infrastructure, Reliance Capital, Indiabulls Real Estate, Shriram Transport Finance, Adani Enterprises were among the major gainers in the intraday trade session while stocks of ABB India, Vedanta, JaiprakashAssociates and Star Cement were the major losers in the intraday trade.
Metal stocks continue to attract fresh buying as the BSE Metal index edged 0.78 per cent higher in the intraday trade. Metal major Tata Steel share price surged 3.22 per cent higher, Jindal Steel & Power shares went up 2.85 per cent, Hindustan Zinc stock price soared 1.16 per cent, SAIL or Steel Authority of India stocks went up 1.22 per cent while Vedanta counter went down 3.45 per cent in the intraday trade.
Among the major Asian markets, the Japanese Nikkei 225 index went down 48 points, South Korean Kospi added 7 points from its previous closing, Hang Seng shot up 70 points while Shanghai markets shed 12 points in the intraday trade session.
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