Sensex retreats from record peak as investors book profits amid positive global cues; Yes Bank, Tata Motors among top gainers

Top losers in the Sensex pack included Sun Pharma, TCS, Kotak Bank, Infosys, Tata Steel and HUL, shedding up to 1%.

FP Staff November 05, 2019 10:30:12 IST
Sensex retreats from record peak as investors book profits amid positive global cues; Yes Bank, Tata Motors among top gainers
  • After rising over 165 points in the opening session, the 30-share index pared all gains to trade 41.28 points, lower at 40,260.68

  • The Nifty auto index rose as much as 0.62%, with shares of Tata Motors rising over 1.5%

  • Foreign institutional investors offloaded shares worth Rs 138.53 crore in the capital market on Tuesday

After extending gains on increasing hopes of a trade truce between the United States and China, market benchmark BSE Sensex retreated from its record peak in early trade on Tuesday as investors booked profits amid positive cues from global equities.

After rising over 165 points in the opening session, the 30-share index pared all gains to trade 41.28 points, or 0.10 percent, lower at 40,260.68.

Similarly, the broader NSE Nifty slipped 13.60 points, or 0.11 percent, to 11,927.70.

Top losers in the Sensex pack included Sun Pharma, TCS, Kotak Bank, Infosys, Tata Steel and HUL, shedding up to 1 percent.

Sensex retreats from record peak as investors book profits amid positive global cues Yes Bank Tata Motors among top gainers

Representational image. Reuters.

On the other hand, Yes Bank, Hero MotoCorp, Tata Motors, SBI, Bajaj Finance and Bajaj Auto, that rose up to 2 percent.

Yes Bank was the top gainer on the NSE index, rising as much as 8.84 percent to its highest since 31 October.

This pushed the Nifty Private bank index 0.3 percent higher.

The Nifty PSU Bank index, which tracks the country’s state-run lenders, advanced 0.5 percent. It was on track for an eighth straight session of gains, with shares of Allahabad Bank gaining as much as 1.81 percent.

The Nifty auto index rose as much as 0.62 percent, with shares of Tata Motors rising over 1.5 percent.

Mahindra and Mahindra’s shares were flat after the company said it will recall a limited batch of XUV300 vehicles to fix a faulty suspension component.

In the previous session, the 30-share Sensex rose 136.93 points, or 0.34 percent, to end at an all-time high of 40,301.96. The seven-session winning run is also the best since mid-March for the Sensex. The index also hit its record intra-day high of 40,483.21.

Meanwhile, Prime Minister Narendra Modi said on Monday that India will not join a China-led regional trade pact as it failed to address Delhi’s concerns over market access.

Foreign institutional investors (FIIs) offloaded shares worth Rs 138.53 crore in the capital market on Tuesday, while domestic institutional investors sold equities worth Rs 500.24 crore, data available with stock exchange showed.

According to traders, benchmark indices were trading flat as investors began booking profits at higher levels.

Globally, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading higher on optimism over the US-China trade deal.

Shares on Wall Street too ended higher on Monday.

On the currency front, the rupee appreciated 4 paise against the US dollar to trade at 70.73 in early session.

Brent futures, the global oil benchmark, rose 0.05 percent to $62.16 per barrel.

With inputs from agencies

Updated Date:

also read

Sensex, Nifty start on a choppy note on weak global cues as rising rift between US-China keep investors on edge
Business

Sensex, Nifty start on a choppy note on weak global cues as rising rift between US-China keep investors on edge

Sensex was trading 23.96 points or 0.06% lower at 37,439.03. The broader NSE Nifty was also trading 7.85 points or 0.07% down at 11,271.05.

Sensex rises over 100 points to 38,828 ahead of GDP data release; Nifty reclaims 11,700-mark; healthcare, IT stocks up
Business

Sensex rises over 100 points to 38,828 ahead of GDP data release; Nifty reclaims 11,700-mark; healthcare, IT stocks up

The NSE Nifty too gained 47.70 points, or 0.41 percent, to 11,724.50 after touching a low of 11,654.80.

Sensex ends 147 points higher amid positive domestic, global cues; Tata Motors, NTPC among top gainers
Business

Sensex ends 147 points higher amid positive domestic, global cues; Tata Motors, NTPC among top gainers

The 30-share Sensex ended 147.15 points, or 0.39%, higher at 37,641.27. It hit an intra-day high of 37,731.51 and low of 37,449.69.