Sensex ends in red but still above 30,000
Stocks took a breather today after three days of a dizzying rally as both the Sensex and the Nifty came down from life highs owing to rush among investors to take profit, sobered by caution in global markets. Expiry of April derivatives contracts got under way, making participants hold back their bets. Global pointers remained subdued as the long-awaited tax plan unveiled by US President Donald Trump did not move investors. “Market traded range bound on the expiry day, while global market remained weak due to lack of clarity in US president s corporate tax proposals which influenced investors to take out some profit,” said Vinod Nair, Head of Research,
Geojit Financial Services.
The Sensex scaled a new peak of 30,184.22 intra-day, driven by abundant liquidity. But subsequently, investors chose to book gains as the benchmark closed at 30,029.74, down 103.61 points, or 0.34 per cent. 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. Likewise, the 50-stock NSE barometer Nifty finished 9.70 points, or 0.10 per cent, down at 9,342.15 after hitting yet another new high of 9,367.15 (intra-day).
It had gained 232.45 points in the past three days. …read more