Sensex, Nifty touch new highs; ends flat due to profit booking

Mumbai, May 27 (UNI) The Indian benchmark indices on Monday touched new highs during intraday but profit booking dragged the indices down and closed marginally lower than previous close.

The BSE Sensex on ended marginally lower at 75,390.50 easing 19.89 points at close as selling or profit booking at every peak seems to be the practice amidst uncertainty over the outcome of Lok Sabha polls which is just a week away on June4.

Investors seem to be cautious and doesn’t want to hold long positions before the clarity on elections result.

The Foreign Institutional Investors (FIIs) sold equities worth Rs 945 crore in the last trading session while the Domestic Institutional Investors (DIIs) bought to the tune of Rs 2,320 crore, according to data available.

The National Stock Exchange (NSE) also ended lower by 24.65 points at 22, 932.45. The NSE registered days and all-time of 23,110.80 and day’s low of 22,871.20 points.

See saw trend was witnessed today, the Sensex opened on a strong note at 75655.46, up 245 points. During the day, it rallied 599 points at 76009.68, day’s and all-time high. In late trade it plunged nearly 235 points to 75175.25 day’s low.

The stocks that fell were BSE services by 1.52 per cent, IT by 0.55 per cent and Realty by 0.47 per cent. In 30-share index, 12 advanced while 18 declined. The Mid Cap index rose 0.63 per cent while small Cap fell by 0.09 per cent.

The losers were Wipro by 2.36 per cent to Rs 452.55, NTPC by 1.40 per cent to Rs 369.60, Sun Pharma by 1.34 per cent to Rs 1466.70 and M& M by 1.23 per cent to 2548.30.

The gainers were IndusInd bank by 1.44 per cent to Rs 1462.50, Axis bank by 1 per cent to Rs 1186, Bajaj Finance by 0.87 per cent to Rs 6897.80 and HDFC bank by 0.75 per cent to Rs 1527.75.

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