Mumbai, Benchmark Sensex and Nifty closed marginally lower in a volatile session on Thursday as investors booked profits in heavyweights ahead of the announcement of key financial results for the June quarter.
Retreating from early highs, the 30-share BSE Sensex closed down 27.43 points or 0.03 per cent at 79,897.34. The index rose 245.32 points to reach a high of 80,170.09 in early trading, but later lost momentum due to selling in index heavyweights. The barometer reached the day's low of 79,464.38, 460.39 points lower than the last close.
The NSE Nifty fell 8.50 points or 0.03 per cent to settle at 24,315.95. The broader index ranged between a high of 24,402.65 and a low of 24,193.75 in daily trading.
"Major indices are trading in a tight range, struggling to justify their premium valuation ahead of the first quarter earnings season, which is expected to be subdued," said Vinod Nair, head of research at Geojit Financial Services.
Among Sensex stocks, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, Nestle, NTPC, Power Grid, NTPC, UltraTech Cement and Larsen & Toubro were the biggest laggards.
The top winners were ITC, Tata Motors, Asian Paints and Titan.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong closed higher. European markets were trading in positive territory. US markets finished significantly higher on Wednesday.
Foreign institutional investors (FIIs) bought shares worth Rs 583.96 crore on Wednesday, according to exchange data.
Global benchmark Brent crude rose 0.21 percent to $85.26 a barrel.
The BSE benchmark index closed lower by 426.87 points or 0.53 per cent at 79,924.77 on Wednesday. The NSE Nifty fell 108.75 points or 0.45 per cent to settle at 24,324.45.
Both benchmark indices had hit their record levels in opening trading on Wednesday.
Retreating from early highs, the 30-share BSE Sensex closed down 27.43 points or 0.03 per cent at 79,897.34. The index rose 245.32 points to reach a high of 80,170.09 in early trading, but later lost momentum due to selling in index heavyweights. The barometer reached the day's low of 79,464.38, 460.39 points lower than the last close.
The NSE Nifty fell 8.50 points or 0.03 per cent to settle at 24,315.95. The broader index ranged between a high of 24,402.65 and a low of 24,193.75 in daily trading.
"Major indices are trading in a tight range, struggling to justify their premium valuation ahead of the first quarter earnings season, which is expected to be subdued," said Vinod Nair, head of research at Geojit Financial Services.
Among Sensex stocks, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, Nestle, NTPC, Power Grid, NTPC, UltraTech Cement and Larsen & Toubro were the biggest laggards.
The top winners were ITC, Tata Motors, Asian Paints and Titan.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong closed higher. European markets were trading in positive territory. US markets finished significantly higher on Wednesday.
Foreign institutional investors (FIIs) bought shares worth Rs 583.96 crore on Wednesday, according to exchange data.
Global benchmark Brent crude rose 0.21 percent to $85.26 a barrel.
The BSE benchmark index closed lower by 426.87 points or 0.53 per cent at 79,924.77 on Wednesday. The NSE Nifty fell 108.75 points or 0.45 per cent to settle at 24,324.45.
Both benchmark indices had hit their record levels in opening trading on Wednesday.
