The Sensex and Nifty reached fresh highs in intraday trading on Friday before ending slightly lower owing to profit booking in FMCG, IT, and healthcare companies.
A negative trend in global stocks dampened mood, but fresh foreign capital inflows and steady crude oil prices in international markets bolstered the markets, dealers said. The markets were on a record-breaking rise for the second day in a row ahead of the Lok Sabha elections on June 4.
The sensex dropped 8 points in a very erratic transaction to end at 75,410. It gained 218 points during the day to reach its highest intraday level of 75,637. In early trading, the Nifty crossed above the 23,000 barrier for the first time. It increased by 59 points during the day to reach an all-time high of 23,026. However it erased all of those gains, closing at 22,957 with a minor loss of 11 points.
According to Prashanth Tapse, senior VP (research), Mehta Equities, "markets ended flat in a sluggish trading session as investors preferred to stay on the sidelines due to weak global cues." The sensex has increased by 1,493 points in a week. The market capitalization of the BSE was close to Rs 420 lakh billion. Organizations
