Published: Mon, June 19, 2017
Economy | By Guillermo Lane

Sensex ends at record high as financial stocks lead

Sensex ends at record high as financial stocks lead

But the market's record-setting spree short-lived and the 30-share Sensex shed almost 119 points to end at 31,190.56, while Nifty slumped nearly 38 points to finish at 9,637.15.

European markets ended Monday's session with modest losses as investors remained focused on upcoming United Kingdom election as well as ECB and FOMC meetings.

The market sentiment took a short-term reversal in the absence of any meaningful fresh domestic triggers and also concerns of stretched valuation.

It hit a high of Rs 2708.95 and a low of Rs 2630 during the day. The S&P BSE Sensex, which opened at 31,420.85 points, was trading at 31,356.72 points (at 9.30 a.m.), was higher by 47.23 points or 0.15 per cent from the previous day's close at 31,309.49 points.

However, lower European stocks and mixed Asian cues capped gains on the bourses.

Indian markets continued to rise for the third day on Tuesday. Taiwan market dropped by 0.20 per cent.

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State Bank of India (SBI) rose 1.44% after the company said that the meeting of the Committee of Directors will be held on Thursday, 8 June 2017 to consider and approve the issue price for the equity shares proposed to be issued pursuant to the qualified institutional placement (QIP).

However, TCS rose by 3.63 per cent followed by Infosys 2 per cent, Wipro 0.91 per cent and Dr Reddy 0.61 per cent.

The BSE consumer durables index gained the most by climbing 5.81 per cent, followed by realty 1.02 per cent, capital goods 0.80 per cent, telecom 0.60 per cent, industrials 0.49 per cent and oil&gas 0.36 per cent. The Institute for Supply Management's index on the services sector fell 0.6 points in May, though it remains in solidly positive territory. Both Sensex and Nifty were trading at a new life time high.

The market breadth turned negative as 1,774 stocks ended lower, 924 closed higher while 160 ruled steady.

Turnover in the cash segment fell to Rs 20,992.61 crore, from Rs 22,302.61 crore last Friday.

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