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In a day marked by historic highs and subsequent profit-taking, the Indian stock market witnessed a slight dip as both the Sensex and Nifty settled lower after hitting record peaks earlier in the session.
The BSE Sensex, comprising top 30 stocks, edged down by 58.80 points or 0.08 per cent to settle at 74,683.70. Earlier in the day, it had surged to an all-time high of 75,124.28, breaching the significant 75,000-mark for the first time ever. Similarly, the NSE Nifty saw a decline of 23.55 points or 0.10 per cent, closing at 22,642.75 after touching a fresh peak of 22,768.40.
The market saw profit-booking activities particularly in stocks like Titan, Reliance Industries, Asian Paints, and others, which weighed on the indices. Conversely, companies like ICICI Bank, Infosys, and Bajaj Finserv contributed to the gains.
While Asian markets showed mixed trends, with Tokyo, Shanghai, and Hong Kong ending positively and Seoul closing lower, European markets traded mostly in the red. Wall Street had a mixed session the previous day.
The slight retreat in the Indian market was attributed to profit-booking at higher levels, with investors also eyeing the upcoming US inflation data which could impact future rate cuts by the US Federal Reserve. Recent better-than-expected US economic data has raised concerns about a potential change in rate cut expectations for the year.
Foreign Institutional Investors (FIIs) were observed offloading equities worth Rs 684.68 crore on Monday, according to exchange data. Meanwhile, global oil benchmark Brent crude climbed slightly to USD 90.54 a barrel.
Despite today’s minor pullback, the overall sentiment remains positive, with the BSE benchmark settling at a new closing peak of 74,742.50 on Monday and the NSE Nifty also closing higher at 22,666.30.
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