Sensex, Nifty fall from record highs; metal stocks lead losses

Indian market closed lower on Thursday amid profit booking from record highs. Sensex declined 132 points to close at 69,521 and Nifty slipped 36.55 points to end at 20,901. The Indian stock market has snapped seven days of winning streak today.

Airtel, HUL, Tata Steel, ITC and NTPC were the top Sensex losers falling up to 2.34 per cent. PowerGrid, Ultratech Cements, Titan Company and NTPC were the top Sensex gainers rising up to 2.47%. Of 30 Sensex  stocks, 12 scrips ended in the green.  

Consumer durables and oil and gas shares were the top sectoral gainers with their indices rising 587 points, and 222 points, respectively on BSE. The BSE metal index was the top loser, falling 187.61 points to 24,668. 

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Vinod Nair, Head of Research at Geojit Financial Services said, "The market took a breather, the investors are in a wait-and-watch mode ahead of the monetary policy announcement. A better-than-estimated Q2 GDP growth, ease in global oil prices and drop in global bond yield will be the silver lining for the MPC. However, the expectation of a rise in domestic November inflation, drop in Rabi cultivation and increase in foodgrain prices will influence RBI to adopt a cautious approach in the short-term." 

Market breadth was positive with 2208 stocks ending higher against 1558 stocks falling on BSE. 119 shares were unchanged. Market cap of BSE-listed firms fell to Rs 350.17 lakh crore today.   

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Meanwhile, Indian rupee ended marginally lower at 83.36 per dollar on Thursday against Wednesday’s close of 83.32.

Previous session 

The  domestic equity market closed at record highs on Wednesday. Sensex rose 357 points to end the session at 69,653 and Nifty added 82 points to settle at 20,937.          

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