Markets snap record-breaking rally on selling in banking, finance & tech stocks

Mumbai: Market benchmarks Sensex and Nifty halted their three-day record-hitting rally to close with losses on Friday as investors booked profit in banking, finance and tech stocks despite a positive trend in global equities.

Snapping a four-session winning run, equity indices succumbed to selling pressure after mid-session when profit-taking emerged on select counters.

After hitting fresh all-time high level in early trade, the 30-share index declined 210.45 points or 0.27 per cent to settle at 79,032.73. During the day, it jumped 428.4 points or 0.54 per cent to hit a fresh record peak of 79,671.58.

The Nifty went lower by 33.90 points or 0.14 per cent to 24,010.60. During the day, it climbed 129.5 points or 0.53 per cent to hit a new lifetime high of 24,174.

The Sensex breached the historic 79,000 mark on Thursday, and the Nifty hit the 24,000 level for the first time in intra-day trade.

In the past four trading days, the BSE benchmark jumped 2,033.28 points or 2.63 per cent.

On the weekly front, the BSE benchmark jumped 1,822.83 points or 2.36 per cent, and the Nifty climbed 509.5 points or 2.16 per cent.

Sensex recorded the best monthly gain in June by climbing 7.14 per cent.

The market capitalisation of BSE-listed firms hit an all-time high of Rs 439.24 lakh crore ($5.26 trillion).

IndusInd Bank was the biggest loser on the Sensex chart, slipping 2.61 per cent, followed by Axis Bank, ICICI Bank, Bharti Airtel, Kotak Mahindra Bank, Maruti, JSW Steel and Bajaj Finserv. In contrast, Reliance Industries, Tata Motors, Asian Paints, Nestle and Titan were the biggest gainers.

In the broader market, the BSE smallcap gauge climbed 0.56 per cent, and midcap went up by 0.41 per cent.

Among indices, bankex declined 1.04 per cent, telecommunication (0.65 per cent), financial services (0.52 per cent), teck (0.42 per cent) and industrials (0.26 per cent).

Healthcare, energy, metal, oil & gas, utilities and commodities were among the gainers. The BSE benchmark jumped 568.93 points or 0.72 per cent to settle at a new closing peak of 79,243.18 on Thursday. The Nifty ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74

per cent.