Sensex turns choppy after hitting all-time high of 36,928 in opening trade; Bharti Airtel, Asian Paints, TCS among top losers

Sensex rose 01.97 points, or 0.27% to hit a new high of 36,928.06, bettering its previous intra-day record of 36,902.06 hit yesterday. However, the index soon turned choppy and was trading 16.05 points, or 0.04% higher at 36,841.15 at 0940 hrs

Press Trust of India July 25, 2018 10:41:36 IST
Sensex turns choppy after hitting all-time high of 36,928 in opening trade; Bharti Airtel, Asian Paints, TCS among top losers

Mumbai: The benchmark Sensex turned volatile after hitting a new high of 36,928.06 in early session as investors turned cautious ahead of July futures and options (F&O) expiry amid mixed quarterly earnings.

The 30-share index rose by 102..97 points, or 0.27 percent, to hit a new high of 36,928.06, bettering its previous intra-day record of 36,902.06 hit yesterday. However, the index soon turned choppy and was trading 16.05 points, or 0.04 percent, higher at 36,841.15 at 0940 hrs. The gauge had rallied 473.87 points in the previous three sessions.

The 50-share NSE Nifty too turned cautious and was trading 4.40 points, or 0.04 percent, lower at 11,129.90.

Sentiment remained cautious ahead of July series F&O expiry scheduled tomorrow amid mixed quarterly earnings, brokers said.

Prominent gainers were Vedanta, Hero MotoCorp, Tata Steel, Adani Ports, ONGC, SN Pharma, SBI, Bajaj Auto, Tata Motors, HDFC, Wipro, L&T and PowerGrid, rising up to 1.92 percent.

Top losers include Bharti Airtel, Asian Paints, NTPC, Coal India, Maruti and TCS falling up to 2 percent.

Sensex turns choppy after hitting alltime high of 36928 in opening trade Bharti Airtel Asian Paints TCS among top losers

Representational image. Reuters

Meanwhile, on a net basis, foreign funds bought shares worth Rs 104.34 crore, while domestic institutional investors made purchases worth Rs 513.78 crore yesterday, provisional data showed.

Elsewhere in Asia, Shanghai Composite Index rose 0.09 percent, Hong Kong's Hang Seng was up 0.85 percent, while Japan's Nikkei gained 0.54 percent in early deals.

The US Dow Jones Industrial Average ended 0.79 percent yesterday.

Rupee declines

Continuing its slide for the third straight day, the rupee weakened by another 3 paise to trade at 68.97 against the US dollar in opening session today due to increased demand for the American currency from importers.

The dollar's gains against other currencies ahead of a meeting between US President Donald Trump and European Commission President Jean-Claude Juncker, also impacted the rupee sentiment, a currency dealer said.

They said, a higher opening of the domestic equity market, capped the rupee's losses.

Yesterday, the rupee dropped by 8 paise to close at 68.94 against the US currency due to sustained dollar demand from importers even as local equities hit a record high.

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