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Sensex tests record intra-peak of 53K

Equity benchmark Sensex ended on a flat note after scaling the 53,000-mark on Tuesday as investors booked profits at higher levels.

Sensex, Nifty shed early gains to end flat
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Sensex, Nifty shed early gains to end flat

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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 points.

"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. Nearing Mount 53K, however, Sensex witnessed profit-taking across the board in afternoon trade." said S Ranganathan, head (research) at LKP Securities. Vinod Nair, head (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."

Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 1,244.71 crore, as per exchange data.

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.

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.

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