Market ends flat after two-day rally amid investors rush for profit booking; SBI, Axis Bank, L&T among top losers

Benchmark stock gauges Sensex and Nifty ended on a flat note on Tuesday as investors scrambled to book profits after a stellar two-day rally

Press Trust of India September 24, 2019 16:59:02 IST
Market ends flat after two-day rally amid investors rush for profit booking; SBI, Axis Bank, L&T among top losers
  • After gyrating 393 points during the day, the 30-share index ended 7.11 points or 0.02 percent higher, at 39,097.14

  • While, the broader NSE Nifty settled with a marginal gain of 12 points, or 0.10 percent, at 11,588.20

  • In the past two days, Sensex zoomed 2,996.56 points, or 8.30 percent; while the 50-share Nifty soared 895.40 points or 8.36 percent

Mumbai: Benchmark stock gauges Sensex and Nifty ended on a flat note on Tuesday as investors scrambled to book profits after a stellar two-day rally.

After gyrating 393 points during the day, the 30-share index ended 7.11 points or 0.02 percent higher, at 39,097.14.

While, the broader NSE Nifty settled with a marginal loss of 12 points, or 0.10 per cent, at 11,588.20.

On the Sensex chart, major laggards were SBI, Axis Bank, L&T, Hero MotoCorp, Asian Paints, ONGC, Tata Steel and Bajaj Finance -- dropping up to 3.56 percent.

Market ends flat after twoday rally amid investors rush for profit booking SBI Axis Bank LT among top losers

Representational image. Reuters.

Among the top gainers were Infosys, RIL, TechM, Tata Motors, Maruti, PowerGrid, HCL Tech, TCS and Yes Bank -- rising up to 3.78 percent.

According to traders, benchmark indices took a breather after a two-day rally as participants booked profits at higher levels.

In the past two days, Sensex zoomed 2,996.56 points, or 8.30 percent; while the 50-share Nifty soared 895.40 points or 8.36 percent.

Domestic equity markets cheered Finance Minister Nirmala Sitharaman delivering a surprise cut in corporate tax rates last week.

Meanwhile, the rupee was quoted 8 paise lower at 71.02 against the US dollar in intra-day trade on Tuesday.

Brent crude futures fell 0.79 percent to $63.77 per barrel (intra-day).

In Asian stock markets, Hang Seng, Shanghai Composite Index, Nikkei and Kospi ended on a positive note.

Stock exchanges in Europe were trading in the green in their respective early sessions.

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