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Markets take a breath, lose record highs

Press Trust of India  |  Mumbai 

Both benchmarks and today gave up their life highs hit earlier in the day after participants moved in to take profit off the table.

The slipped under the crucial 32,000-mark by losing 40 points while the cracked below 9,900 after hitting the threshold for the first time ever.

There was heavy selling at the counter, which yesterday reported a 5.9 per cent decline in consolidated net profit at Rs 5,945 crore. released positive June quarter today.

The key indices ran into profit booking after four sessions of back-to-back rally.

Realty, IT, industrials and financials cracked.

The 30-share benchmark dropped 40.04 points, or 0.12 per cent, to 31,997.34 at 1200 hours.

The 50-share stood at 9,868.75 at 1200 hours, down 22.95 points, or 0.23 per cent.

Major losers were and Coal India, falling by up to 1.88 per cent.

Most Asian stocks were trading higher in anticipation of US data and earnings from some large banks.

In the US, the Dow yesterday closed at a record on gains in the financial sector.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 59.15 crore yesterday, as per provisional data.

Domestic institutional investors (DIIs) bought shares worth a net Rs 279.13 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 14 2017. 12:22 IST