Sensex eases from record highs
- Author: Darren Santiago May 03, 2017,
May 03, 2017, 0:33
Similarly, the broader 50-issue NSE Nifty scaled a new high of 9,367 before finally settling 45.25 points, or 0.49 per cent higher at 9,351.85, a new record closing.
Benchmark Nifty closed above the 9,300-mark for the first time in its history on Tuesday, while the sensex soared 287 points to a three-week high on widespread buying, spurred by strong results and upbeat global cues.
The Nifty50 of the National Stock Exchange ended at 9342.15, recording a loss of 9.70 points or 0.1%.
Yesterday, the 30-share blue-chip index had hit its all-time closing high of 30,133.35 and gained 768.05 points in the previous three sessions.
Both indexes posted their biggest daily percentage gains since March 14.
Amid profit booking at record highs and weak Asian equity markets, domestic benchmark were trading with declines in the late morning trade on Friday.
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Asian shares also eased as a long-awaited USA tax cut plan unveiled by Donald Trump on Wednesday failed to inspire investors.
Local stock markets ended lower on Friday.
Rupee strengthened past the 64 mark against the United States dollar for the first time since in over an year, tracking the gains in the global equity markets.
Other gainers that contributed to the rise in key indices included GAIL, Axis Bank, L&T, Maruti Suzuki, HDFC Ltd, Adani Ports, SBI, Tata Motors, Bharti Airtel, ONGC, Bajaj Auto, TCS and ITC Ltd, rising by up to 3.17 per cent. Japan's Nikkei too was down 0.24 per cent.
In contrast, the S&P BSE metal index surged by 166.95 points, the automobile index gained 147.96 points, and the banking index was up by 74.17 points.
However, this week the NSE Nifty index and BSE Sensex inched closer to a 2 per cent gain to mark its best performance since mid-March. European indices like FTSE 100 and CAC 40 traded higher.