Nifty, Sensex Snap Winning Streak, End Lower on Profit Booking

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Nifty, Sensex Snap Winning Streak, End Lower on Profit Booking

By Aditya Raghunath

Investing.com -- After gaining over Rs 3.55 lakh crore in the last two days, investors got a small jolt as the markets finally paused their record-rally today. Nifty 50 and the BSE Sensex 30 were very volatile. The Sensex moved 866 points today before closing 125 points or 0.21% down while Nifty closed 44 points or 0.25% lower today.

After opening higher on the back of a Rs 30,600 crore commitment to the bad bank by Finance Minister N Sitharaman, markets began losing steam after noon. The fall in markets was partly due to profit booking and partly due to shaky global sentiments.

Private banks led the gainers list with Kotak Mahindra Bank Ltd. (NS: KTKM ) closing up 5.63% and HDFC Bank Ltd (NS: HDBK ) closing 1.64%. Nifty Bank also closed up 0.38%.

Tata Steel Ltd (NS: TISC ) was the major loser, ending down 3.76%. Coal India Ltd (NS: COAL ) lost 3.45%, followed by State Bank Of India (NS: SBI ) at 2.25%, and Tata Consultancy Services Ltd. (NS: TCS ) and Hindalco Industries Ltd. (NS: HALC ) who lost 1.97% each.

Asian markets closed in the green with Nikkei 225 closing up 0.58%, KOSPI 50 up 0.33% and the Shanghai Composite up 0.19%.

US stocks are set to open lower later, amid ongoing concern about the global economy. Those concerns weren’t banished by a superficially strong US retail sales report for August on Thursday.

As of this report), Dow Jones 30 Futures are down 0.24%, S&P 500 Futures are down 0.27% and Nasdaq 100 Futures are down 0.21%.

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  • Rakesh Prasad @Rakesh Prasad
    Thank god market taken the correction.
    Like 1
  • satyabrata nayak @satyabrata nayak
    mkt is so volatile
    Like 1
  • Er Rahmat Ullah @Er Rahmat Ullah
    No one knows exactly
    Like 0
  • Tom Singh @Tom Singh
    many analysis recommend tat steel to hit 15 k but it went more than 5% down intraday 😕
    Like 1
    • Rs Guru @Rs Guru
      That’s market 😀
      Like 0
    • Ajit Pardeshi @Ajit Pardeshi
      1500 you mean. not 15k
      Like 0
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