13.6C
Delhi
Tuesday, January 19, 2021

Market takes breather amid bull run, slips from record highs

- Advertisement -

Sensex, Nifty recover on improved global marketMumbai, Jan 13 (IANS) The rally in the Indian stock market eased on Wednesday as the indices shed gains post touching fresh record levels in a largely volatile trade session.

Traders booked profits after the continuous rise in the market, analysts said.

Volatility in the market can be gauged from the fact that Sensex traversed over 700 points, between its intra-day high and low levels.

The net FII inflow stood at Rs 1,879.06 crore, while the net DII outflow during the day was Rs 2,370.17 crore.

Earlier in the day, BSE Sensex hit an all-time high of 49,795.19 and the Nifty50 on the National Stock Exchange (NSE) touched a record high of 14,653.35 points.

READ ALSO:  Amid profit booking, valuation concerns, market end deep in red

The Sensex closed at 49,492.32, lower by 24.79 points, or 0.05 per cent, from its previous close of 49,517.11.

The Nifty50 on the National Stock Exchange closed flat at 14,564.85 points.

Deepak Jasani, Head of Retail Research at HDFC Securities, said: “Post 12.50 p.m. a steeper selloff, probably basket selling by an institution, followed. However, due to lack of follow-up selling, markets recovered to close almost flat at the end of the day.”

Among sectors, PSU banks, bank Nifty and autos were the main gainers while pharma was the main loser.

READ ALSO:  BSE launches e-Agricultural spot market platform

Jasani said that Asian stocks mostly rose on Wednesday, tracking modest Wall Street gains, as expectations that a vaccine will eventually win the battle against the coronavirus fueled recovery hopes, while oil prices touched a one-year high.

“European stocks fought for traction on Wednesday, as investor focus remained on Covid-19 vaccines and rising infections across the region,” he said.

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said: “We are of the view that, the bulls are still in total control but daily chart showing temporary pause near 14,650/49,700, hence, traders may prefer caution near resistance level.”

READ ALSO:  Yes Bank Crisis: CBI, ED studying documents, senior officials to be quizzed

Source: IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India

Netaji’s birthday to be marked as ‘Parakram Diwas’ every year: Govt

New Delhi, Jan 19 (IANS) The Ministry of Culture on Tuesday said that the government has decided to celebrate the birthday of Netaji Subhas...

WHO panel highlights effective multilateralism in Covid response

Geneva, Jan 19 (IANS) A latest interim report by a WHO pandemic review panel has highlighted effective multilateralism in the preparation and response to...

Start of 2021 sees upward trend in Covid situation: WHO

Geneva, Jan 19 (IANS) Following two weeks of lower reporting towards the end of 2020, an overall upward trend of the Covid-19 pandemic has...

Petrol, diesel prices breach record high levels

New Delhi, Jan 19 (IANS) Petrol and diesel prices rose again by 25 paise per litre each on Tuesday after oil marketing companies decided...