Nifty tests record high of 22,297.50pts
Key indices retreat on late selling in IT and select banking shares; RIL rose 1% to hit 52-wk high; Reliance Jio Fin Services soared 14.5% to year’s high level, taking its mcap to over Rs2.20 lakh cr
image for illustrative purpose
Mumbai: Benchmark stock indices Sensex and Nifty edged lower in a volatile trade on Friday, reversing early gains due to selling in IT and select banking shares. The 30-share BSE Sensex slipped 15.44 points or 0.02 per cent to close at 73,142.80 points with 17 of its constituents closing in the red and 13 in the green. The index opened higher, but later slipped into losses due to profit-taking by investors. The barometer oscillated between a high of 73,413.93 and a low of 73,022 during the day. The broader Nifty of NSE closed lower by 4.75 points or 0.02 per cent at 22,212.70 points as gains in FMCG, pharma and financial shares were offset by losses in IT and private bank shares. The 50-share barometer scaled a record high of 22,297.50 in intra-day trade.
“Nifty opened higher, but failed to sustain the morning momentum, leading to a closing at the day’s low due to profit booking,” said Rupak De, senior technical analyst, LKP Securities.
“The domestic market paused momentarily today after reaching another record high earlier in the day, driven by positive signals from global markets,” said Vinod Nair, head (research), Geojit Financial Services.
