Markets pause record run

Source: The Hitavada      Date: 15 Jul 2017 10:35:58


July 14,


STOCKS took a break after four back to back record-setting sessions as the benchmark Sensex on Friday hit an all-time high, only to lose its way to end with a paltry loss. The broader Nifty retreated after breaching the 9,900- mark for first time ever.

But on a weekly basis, both key indices Sensex and Nifty rose significantly by 660.12 points, or 2.10 per cent, and 220.55 points, or 2.28 per cent, respectively, mainly driven by the successful rollout of the Goods and Services Tax (GST) and CPI and WPI inflation staying soft, giving the RBI more headroom to snip policy rate at its policy meet next month. This is the biggest weekly gain for the indices since mid-March.

The Sensex closed at 32,020.75, down 16.63 points, or 0.05 per cent. The index scaled 32,109.75 today to breach its previous all-time intra-day high of 32,091.52 hit yesterday. The NSE Nifty index finished lower by 5.35 points, or 0.05 per cent, to close at 9,886.35. Intra-day, it went past the 9,900-mark to hit a fresh lifetime high of 9,913.30, crossing its previous record 9,897.25 yesterday.

The Nifty has rallied 225.90 points, or 2.33 per cent, in four straight days of gains. Software services exporter Infosys fell 0.44 per cent even as it reported a 1.3 per cent growth in consolidated net profit for the June quarter.