Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, experienced a significant decline on Friday as investors opted to book profits following a four-day record-breaking rally and weak global market trends. The fall in blue-chip Reliance Industries also contributed to the lower performance of the benchmarks.
Despite hitting a new all-time high of 81,587.76 in early trading, the 30-share BSE Sensex failed to sustain its winning momentum and plummeted 738.81 points, or 0.91 percent, to close below the 81,000-mark at 80,604.65. During the session, it dropped as much as 844.36 points, or 1.03 percent, to 80,499.10. The BSE benchmark had surpassed the 81,000-mark for the first time on Thursday.
Similarly, the NSE Nifty experienced a sharp decline of 269.95 points, or 1.09 percent, ending the day at 24,530.90 after reaching a fresh record peak of 24,854.80 during the opening bell. Throughout the day, it fell by 292.7 points, or 1.18 percent, to 24,508.15.
Among the Sensex constituents, Tata Steel and JSW Steel were the biggest losers, tumbling over 5 percent and nearly 5 percent, respectively. Other major laggards included Tata Motors, NTPC, UltraTech Cement, Tech Mahindra, Bajaj Finance, Power Grid, Mahindra & Mahindra, and Reliance Industries.
On the other hand, Infosys climbed nearly 2 percent after the IT major reported a 7 percent rise in consolidated net profit at Rs 6,368 crore in the April-June quarter and raised its growth outlook for the current financial year, indicating an improvement in the IT segment. ITC, Asian Paints, and HCL Technologies were the other gainers.
In Asian markets, Seoul, Tokyo, and Hong Kong settled lower, while Shanghai ended in the green. European markets were trading lower, and the US markets closed in negative territory on Thursday.
The global oil benchmark, Brent crude, declined 0.07 percent to USD 85.05 a barrel. According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore on Thursday.
On Thursday, the BSE benchmark Sensex jumped 626.91 points, or 0.78 percent, to settle at a fresh closing high of 81,343.46, while the broader Nifty climbed 187.85 points, or 0.76 percent, to settle at an all-time closing high of 24,800.85.
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