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Sensex ends flat, retreats from 53,000-mark on profit-booking

Sensex ends flat, retreats from 53,000-mark on profit-booking

Published:22 June 2021

Equity benchmark Sensex ended on a flat note after scaling the 53,000-mark on Tuesday as investors booked profits at higher levels. A depreciating trend in the rupee also weighed on sentiment.

Mumbai | Equity benchmark Sensex ended on a flat note after scaling the 53,000-mark on Tuesday as investors booked profits at higher levels.
A depreciating trend in the rupee also weighed on sentiment, traders said.
After touching a lifetime intra-day peak of 53,057.11, the 30-share BSE Sensex settled 14.25 points or 0.03 per cent higher at 52,588.71, marking its third straight session of gains.
Similarly, the broader NSE Nifty rose 26.25 points or 0.17 per cent to close at 15,772.75.
Maruti Suzuki, which was the biggest laggard in Monday's session, topped the Sensex gainers' chart on Tuesday with a jump of 5.25 per cent.
L&T, UltraTech Cement, TCS, Titan, Tata Steel and Bajaj Auto were the other winners, advancing up to 2.20 per cent.
On the other hand, Asian Paints, Bajaj Finance, Nestle India, HUL, IndusInd Bank and Sun Pharma were among the major laggards, dropping up to 1.91 per cent.
Markets opened strong on the back of global cues and pick-up in the pace of vaccination. Tuesday's trade saw hectic activity in stocks pertaining to the 'unlock' theme, said S Ranganathan, Head of Research at LKP Securities.
Nearing Mount 53K, however, Sensex witnessed profit-taking across the board in afternoon trade, he noted.
Vinod Nair, Head of Research at Geojit Financial Services, said, "During early hours, Indian market traded strongly following yesterday's rebound in western markets which focused on economic recovery partially offsetting concerns over a possible change in Fed policy in the future." "Volatility returned after main indices tested near all-time high levels, recurring weak closing of Asian and European markets and feeble futures. Falling COVID infection rate along with ramping up of vaccination in India added colours to the broad market in hopes of faster economic recovery," he added.
Sector-wise, BSE capital goods, industrials, auto, power and basic materials indices spurted as much as 1.95 per cent, while realty, bankex, FMCG and finance ended in the red.
Broader BSE midcap and smallcap indices climbed up to 0.83 per cent.
Global equities maintained their upward swing ahead of US Federal Reserve chief Jerome Powell's congressional testimony.
Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo ended with gains, while Hong Kong was in the red.
Stock exchanges in Europe were largely trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.47 per cent lower at USD 74.55 per barrel.
The Indian rupee depreciated 27 paise to close at 74.37 against the US dollar on Tuesday in its second straight day of losses following a stronger dollar overseas.
Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 1,244.71 crore, as per exchange data. 


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