13 of the 19 industry indicators compiled by the BSE closed down, of which the S&P BSE real estate index fell by more than 2%.
As investors set record highs in recent best-performing stocks (such as Infosys, Axis Bank, Tata Consultancy Services, ICICI Bank, Bajaj Finance and Kotak Mahindra Bank), benchmark stocks broke their 7-day record. In the day, the Sensex index rose by as much as 256 points, setting a record high of 58,553.07, while the Nifty 50 index hit a record high of 17,436.50. However, due to higher profit bookings, the market gave up all gains to close the decline. The Sensex index closed 17 points lower to 58,279, and the Nifty 50 index fell 16 points to close at 17,362.
“The market saw some unpredictable developments and an endeavor to hold the Nifty degree of 17,300. On the off chance that the market supports over the degree of 17,200-17,250, it is relied upon to acquire force, prompting a potential gain projection till 17,400-17,450,” Ashis Biswas, head of specialized examination at CapitalVia Global Research said.
Thirteen of 19 area measures aggregated by the BSE finished lower, driven by the S&P BSE Realty file’s more than 2% decay. Oil and Gas, Utilities, Information Technology, Healthcare, Banking and Capital Goods files additionally fell 0.5 1% each.
Then again, Telecom and Consumer Durables shares saw purchasing interest.
Mid-and little cap shares saw benefit booking at record highs, declining 0.23 and 0.42 percent separately.
Among individual stocks, the shares of tractor and agricultural equipment manufacturer VST Tiller Tractors rose 9.3% to a record high of Rs 2,890, after the company announced Monday’s market business hours reported to traders. Tractors and power cultivators in southern African countries. Due to the large transaction volume, IRCTC rose by nearly 10%, hitting a record high of Rs 3,297.90.
Axis Bank was Nifty’s biggest loser; its share price fell 1.65% to close at 787 rupees. Wipro, Tech Mahindra, HCL Technologies, Infosys, Eicher Motors, ONGC, Tata Steel, Tata Motors and Hero MotoCorp are also among the losers. ITC, HDFC, IndusInd Bank, UltraTech Cement, Reliance Industries, Shree Cements and Asian Paints are all winners.