Nifty ends flat after hitting historic 10k mark; Nifty Bank at record high
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Source: BSE
The benchmark indices settled in red after the Nifty50 hit its crucial 10,000 mark for the first time ever as hopes for improving earnings, accelerating economic growth and government reforms boosted investors' confidence.
Overseas, the dollar sagged to a more than one-year low and European stocks climbed on Tuesday, as investors bet that subdued US inflation and political strains in Washington would limit Federal Reserve interest rate moves for the rest of the year.
The Fed starts a two-day meeting later in the day to discuss its monetary stance and the timing of its long-awaited balance sheet reduction, a plan most likely to be detailed in September.
4:14 PM
Journey to landmark 10,000 mark
Nifty took over nine years to hit 2000 from its base value of 1,000. CLICK HERE FOR THE PDF
4:11 PM
Vinod Nair, Head of Research, Geojit Financial Services
Nifty witnessed a historical day by touching 10,000 supported by better earnings from blue-chips and strong liquidity. However, profit booking at higher levels pulled the market to mild correction due to psychological effect, muted Q1 results from midcap companies and investors awaited tomorrow’s US Fed monetary policy meet.
3:50 PM
The breadth, indicating the overall health of the market, was negative. On the BSE, 1,472 shares declined and 1,203 shares rose. A total of 167 shares were unchanged.
3:49 PM
In the broader market, the BSE Midcap added 0.5% to close at 15,312, while the BSE Smallcap ended at its record high of 16,054, up 0.1%.
3:47 PM
Bharti Airtel ended flat at Rs 427 ahead of its June quarter results later in the evening.
3:45 PM
Sectoral gainers and losers (source: NSE)
3:41 PM
Nifty Bank ends at record high (source: BSE)
3:39 PM
Markets at close
Sensex ended at 32,228, down 17 points, while the Nifty50 settled at 9,964, down nearly 2 points.
3:20 PM
Asian Paints, India's biggest paint maker by market capitalisation, posted a 20% fall in first-quarter consolidated profit on Tuesday. The company said its decorative business was impacted in June ahead of the rollout of the Goods and Services Tax while higher material prices also squeezed margins.
Stock was trading flat at Rs 1,152.
Stock was trading flat at Rs 1,152.
3:09 PM
European markets
Strength among commodity firms and banking stocks as well as a string of solid updates boosted European shares on Tuesday. The pan-European STOXX 600 index rose 0.3% bolstered by strength in mining firms and banks while blue chips gained 0.4%. Germany's DAX rose 0.1% and the commodity-heavy FTSE 100 was up 0.5%.
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First Published: Jul 25 2017 | 3:37 PM IST