Markets

Stocks off from record highs; Coal India, ITC advance

Earlier, the Sensex hit a fresh record high of 34,487.52 while NSE Nifty touched life-time high of 10,659.15 on smart gains.

 

The benchmark BSE Sensex retreated from record high level to trade higher by 74 points in late morning trade on bouts of buying in key frontline shares of energy, telecom, consumer durables and metal sectors amid higher Asian cues.

Earlier, the Sensex hit a fresh record high of 34,487.52 while NSE Nifty touched life-time high of 10,659.15 on smart gains in Coal India, Tata Motors, ITC and Reliance.

Coal India touched a day’s high of Rs 310 before trading at ₹ 304.40, up by 5.75 %, after it raised prices of non-coking fuel.

The scrip attracted a lot of investors as over 11 lakh shares were traded on BSE while the trading volume on NSE was over 2 crore in morning session.

Caution crept ahead of earning results of index heavyweights.

Profit-booking was seen in IT and Teck sectors. Wipro and TCS fell up to 1 per cent while Bajaj Auto, Hero MotoCorp and Maruti dropped up to 0.80 per cent in morning trade.

The 30-share Sensex was trading higher by 74.68, or 0.22%, at 34,427.47 at 1100hrs.

The broader Nifty of the NSE was trading marginally higher by 7.50 points, or 0.07 per cent at 10,631.10.

Major gainers were Coal India 6.22 per cent, Tatamtrdvr 1.81 %, ITC 1.75 %, Tata Motors 1.49 % and Yes Bank 1.47 %.

Foreign portfolio investors (FPIs) net bought shares worth ₹ 692.83 crore while domestic institutional investors (DIIs) sold equities to the tune of ₹ 206.30 crore, provisional data showed.

Asian markets were trading higher as investors in the region digested earnings guidance from tech heavyweight Samsung Electronics and kept an eye on ongoing inter-Korea talks.

 

 

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Printable version | May 28, 2020 7:07:25 PM | https://www.thehindu.com/business/markets/stocks-scale-fresh-record-high-as-coal-india-spurts/article22402340.ece

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