Stock Mkt opens at all-time high, fails to sustain momentum; Sensex down 203 points

Mumbai, June 10 (UNI) After opening at new all-time high, the Indian benchmark indices failed to sustain the momentum and ended lower, with the BSE Sensex falling over 203 points to close at 76490 on weak IT sector.

The Nifty also opened and touched a 52-week high of 23411.90 within minutes of opening trading today, but after a volatile session, the index closed nearly 31 points down at 23,259.20.

Today is the first day since the new government, headed by Prime Minister Narendra Modi, took the oath for the third time. All 72 prime ministers plus 71 ministers in the Modi 3.0 government were administered oaths on Sunday. This is first time since 2014 when the BJP has failed to secure majority on its own, whereas the BJP-led NDA alliance has a clear majority in the Lok Sabha.

The 30-share BSE Sensex performed evenly, with 50 percent (15) shares ending losses while the remaining 15 closed with gains from the last closing.

As per the data available, the Foreign Institutional Investors (FIIs) had bought equities worth Rs 4,391 crore, and the Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1,290 crore in the last trading session.

According to sources in the trading community, the market has seen a lot of volatility in the last week and before that during the elections, and it may take a while to stabilize and cautioned small investors to take decisions carefully.

All shares which ended in green today witnessed marginal gains except Ultratech Cement which rose 3.47 per cent to close at Rs 10,826.25, while IT majors Infosys and Tech Mahindra ended lower more than 2 per cent from their previous close.

Leave a Reply