June 19: Today marked the fifth session that the Sensex and Nifty50 reached new record highs. Following the announcement of dim U.S. retail sales data, which increased prospects of a rate decrease by the Federal Reserve in September, the gains were led by the banking and IT sectors. The greatest drags on the index were the stocks of a few titans, including Bharti Airtel, Larsen & Toubro, and Reliance Industries.
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- During the day, the Nifty 50 reached a new high of 23,664 but was unable to sustain its gains, closing 42 points, or 0.18 per cent, lower at 23,516.
- Profit booking was also seen in the mid-and small-cap segments, as seen by the BSE Midcap and Smallcap indices' respective declines of 0.91 per cent and 0.58 per cent.
- Although the 30-share pack Sensex concluded the session with a slight gain of 36 points, or 0.05 per cent, at 77,337.59, with 20 stocks in the red, it also reached a new record high of 77,851.63 throughout the session.
Among the sectors' indices, stocks in banking and financial services performed better than those in real estate and energy.
The market is now focused on policy announcements and the impending Budget, having discounted most positives. Experts predict that until the Budget in July, the market's gains will remain constrained.
Inputs: Agencies
Image Source: Multiple agencies
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