Mumbai, June 19 (IANS) Indian equity indices closed flat on Wednesday as Titan, Bharti Airtel and Maruti Suzuki were top losers.
During the trading hours, Sensex and Nifty made a new lifetime high of 77,851 and 23,664 respectively. This is the fourth consecutive session when benchmarks hit a fresh lifetime high.
At closing, Sensex was at 77,337, up 36 points or 0.05 per cent, and Nifty was down 41 points or 0.18 per cent.
On Wednesday, Bank Nifty emerged as the top sectoral contributor to the main indices. It surged by 1.90 per cent and settled at 51,398.
Stocks of Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, SBI, IDFC First Bank, and Bandhan Bank shot up by 1 to 3 per cent.
According to experts, “Nifty50 and Sensex hit fresh record highs for the fourth consecutive session today. After the release of US retail sales data that fell short of expectations, the gains were led by stocks in the Banking and IT sector.”
“However, these factors strengthened expectations of the Federal Reserve cutting interest rates in near-term 10-year bond yield also declining to 4.22 per cent. These factors are pushing FII to buy more benefiting stocks like HDFC bank, ICICI bank and Axis Bank which are available at an attractive valuation,” they added.
Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, and SBI were the top gainers in the Sensex pack. Titan, Maruti Suzuki, Bharti Airtel, L&T, NTPC, Reliance and Power Grid were the top losers.
–IANS
avs/dpb
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
