Sensex, Nifty turn flat after all-time high

A man looks at a screen displaying the Sensex on the facade of the Bombay Stock Exchange building in Mumbai

A man looks at a screen displaying the Sensex on the facade of the Bombay Stock Exchange building in Mumbai

Among sectoral sub-indices, realty and metal stocks were rallying whereas the bank and IT stocks took a hit in early trading on Tuesday.

On Wednesday, the Sensex closed trade at 33,911.81 points - down 98.80 points or 0.29 per cent from its previous close - after it touched a fresh high of 34,137.97 points on an intra-day basis.

Out of 1,997 stocks traded on the NSE, 906 advanced, 766 declined and 325 remained unchanged today.

However, thanks to some brisk buying in the final minutes, the two indices rebounded and registered new highs before eventually finishing with modest gains.

Mumbai: Taking a cue from global markets, the key Indian equity market indices on Tuesday opened higher after the extended Christmas weekend. Foreign portfolio investors (FPIs) bought shares worth a net Rs 107.87 crore while domestic institutional investors (DIIs) had also purchased equities worth a net Rs 371.53 crore on Friday, as per provisional data.

"Stock-specific news on pharma has influenced investors to focus on the sector which is now available at low valuation", he added.

Sectorwise, all the sub-indices of the BSE, except the healthcare index, closed in the red.

On the other hand, Wipro (0.58%), Tata Power Company (0.54%), Coal India (0.47%), Bharti Airtel (0.46%), Asian Paints (0.43%), and ICICI Bank (0.33%) were the major losers in the Sensex.

-Jayant Manglik, President, Retail Distribution, Religare Securities Pharma stocks defied the bearish sentiment with stocks such as Sun Pharma, Divi's Laboratories, Glenmark, Dr Reddy's Laboratories and Aurobindo Pharma gaining over 1 per cent each.

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