Nifty ends off record high on profit booking, Sensex falls 188 points

Stock market news: The National Stock Exchange benchmark - Nifty 50 index ended lower on Tuesday after hitting record high of 22,783.35 earlier in the session as traders rushed to profit booking in the last hour of trade. Volatility spiked in the last 30 minutes of trade as market participants rushed to profit booking in Bank Nifty futures and option contracts as April monthly contracts expired. Nifty bank index also touched a record high of 49,975.

The blue-chip S&P BSE Sensex ended 188.50 points or 0.25 per cent lower at 74,482.78, while the broader Nifty 50 ended 38.55 points or 0.17 per cent at 22,604.85.

“Both Nifty & BankNifty faces resistance near ATH levels and the sell-off was witnessed at the fag end of the session.  If Fed defaults on its promise of a policy rate cut tomorrow, the down-ward gyration may continue, and taking the Nifty towards 22000 and below levels can’t be ruled out,” said Rahul Ghose Founder & CEO, Hedged.in.

Sensex top gainers

• M&M: 4.53 per cent
• PowerGridCorp: 2.71 per cent
• Bajaj Finance: 1.52 per cent
• IndusIndBank: 1.43 per cent
• Bajaj Finserv: 1.23 per cent
• Tata Motors: 0.89 per cent

Sensex top losers

• Tech Mahindra: -2.08 per cent
• JSW Steel: -1.50 per cent
• Tata Steel: -1.46 per cent
• HCL Tech: -1.41 per cent
• Sun Pharma: -1.29 per cent

Nifty top gainers

• M&M: 4.75 per cent
• PowerGridCorp: 2.77 per cent
• Shriram Finance: 2.12 per cent
• Hero MotoCorp: 2.09 per cent
• Bajaj Auto: 1.78 per cent
• HDFC Life: 1.59 per cent

Nifty top losers

• Tech Mahindra: -2 per cent
• Tata Steel: -1.58 per cent
• Dr Reddy: -1.54 per cent
• Sun Pharma: -1.51 per cent
• HCL Tech: -1.44 per cent
• BPCL: -1.4 per cent