Markets

Market ends flat after two-day rally; financial stocks check rise

Bystanders react as they watch the stock prices displayed on a digital screen outside the BSE building, in Mumbai. File

Bystanders react as they watch the stock prices displayed on a digital screen outside the BSE building, in Mumbai. File   | Photo Credit: PTI

more-in

BSE Sensex ended 7.11 points or 0.02% higher, at 39,097.14; NSE Nifty settled with a marginal gain of 12 points, or 0.10%, at 11,588.20

Benchmark stock gauges Sensex and Nifty ended on a flat note on September 24 as investors scrambled to book profits after a stellar two-day rally.

After gyrating 393 points during the day, the 30-share index ended 7.11 points or 0.02% higher, at 39,097.14.

While, the broader NSE Nifty settled with a marginal gain of 12 points, or 0.10%, at 11,588.20.

On the Sensex chart, major laggards were SBI, Axis Bank, L&T, Hero MotoCorp, Asian Paints, ONGC, Tata Steel and Bajaj Finance — dropping up to 3.56%.

Among the top gainers were Infosys, RIL, TechM, Tata Motors, Maruti, PowerGrid, HCL Tech, TCS and Yes Bank — rising up to 3.78%.

According to traders, benchmark indices took a breather after a two-day rally as participants booked profits at higher levels.

In the past two days, Sensex zoomed 2,996.56 points, or 8.30%; while the 50-share Nifty soared 895.40 points or 8.36%.

Domestic equity markets cheered Finance Minister Nirmala Sitharaman delivering a surprise cut in corporate tax rates last week.

Meanwhile, the rupee was quoted 8 paise lower at 71.02 against the U.S. dollar in intra-day trade on Tuesday.

Brent crude futures fell 0.79% to $63.77 per barrel (intra-day).

In Asian stock markets, Hang Seng, Shanghai Composite Index, Nikkei and Kospi ended on a positive note.

Stock exchanges in Europe were trading in the green in their respective early sessions.

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jan 25, 2020 2:47:40 PM | https://www.thehindu.com/business/markets/market-ends-flat-after-two-day-rally-financial-stocks-check-rise/article29499774.ece

Next Story