{"id":70106,"date":"2024-06-11T05:07:03","date_gmt":"2024-06-11T05:07:03","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/11\/sensex-hits-77k-for-first-time-ends-lower-on-profit-booking-times-of-india\/"},"modified":"2024-06-11T05:07:03","modified_gmt":"2024-06-11T05:07:03","slug":"sensex-hits-77k-for-first-time-ends-lower-on-profit-booking-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/11\/sensex-hits-77k-for-first-time-ends-lower-on-profit-booking-times-of-india\/","title":{"rendered":"Sensex hits 77k for first time, ends lower on profit-booking – Times of India"},"content":{"rendered":"
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MUMBAI: The sensex<\/a> scaled the 77k mark for the first time in early trades on Monday, but profit-taking at higher levels led to it settling with a loss of 203 points at 76,490. On the NSE, Nifty too recorded a new high at 23,412 points and closed at 23,259, down 31 points.
The day’s session saw some spike in volatility as the sensex scaled a new life-high and then came down, swinging 700 points.According to Prashanth Tapse of Mehta Equities, volatility returned to markets as the sensex slipped from its new high and fell sharply towards the close amid profit-taking in IT, metals and oil & gas stocks. “Lacklustre sentiment also prevailed due to weak global cues after recent data from the US indicated that rate cut may not happen soon,” he said.
On the sectoral front, IT stocks were a drag in Monday’s market, with the sector’s index closing with a loss of 1.8%, followed by metals, Siddhartha Khemka of Motilal Oswal Financial Services, said. “Fertiliser stocks saw buying interest after the PM released the latest instalment of the Kisan Samman Nidhi. Cement stocks gained on expectations of a govt push to the housing sector and lowering of GST on cement.”<\/p>\n
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Going forward, the Budget<\/a> is going to be one of the most watched events for the market. “With the Budget around the corner, stock and sector-specific action could be seen going ahead on hopes of tax sops or duty cuts,” said Tapse of Mehta Equities.
On the global front, investor sentiment last week was dented after data showed a strong non-farm payroll growth in the US which led to diminishing hopes of a rate cut by the US Fed in the second half of the year, Khemka of Motilal Oswal Financial Services said. “Investors are now awaiting US Federal Reserve and Bank of Japan policy outcome this week along with US and India CPI data.
The day’s session saw foreign funds turning net buyers at Rs 2,572 crore along with domestic funds, who had a net inflow figure of Rs 2,764 crore, end-of-the-session data on BSE showed. The day’s session left investors marginally wealthier by Rs 1.8 lakh crore, with BSE’s market capitalisation now at Rs 431.4 lakh crore.<\/div>\n