Sensex off record high to end flat; RIL dazzles

Mumbai, Jul 7 (PTI) The benchmark Sensex came down fromrecord high to end 9 points lower in range-bound trade today,wrapping up the week with a gain of 439.02 points on smoothGST implementation and an

Mumbai, Jul 7 (PTI) The benchmark Sensex came down from

record high to end 9 points lower in range-bound trade today,

wrapping up the week with a gain of 439.02 points on smooth

GST implementation and an above normal monsoon so far.

The market was pulled down by negative European and Asian

peers as concerns mounted that the central banks are moving

closer to removing the monetary stimulus that was further

roiled by weakness in oil prices.

In step with the BSE, the 50-scrip NSE Nifty fell by 8.75

points, or 0.09 per cent, to close at 9,665.80 after shuttling

between 9,684.25 and 9,642.65.

During the week, the Sensex registered a rise of 439.02

points, or 1.41 per cent, while the Nifty added 144.90 points,

or 1.52 per cent.

Stocks of heavyweight Reliance Industries Ltd soared 3.43

per cent to trade at over nine-year high of Rs 1,490.80 on

expectations that its subsidiary Reliance Jio is likely to

launch the much awaited 4G VoLTE feature phone soon amid

expectations of robust Q1 earnings to be released this month,

which kept the Sensex fall under check.

Lupin Ltd too rallied 3.28 per cent to Rs 1,116.75.

“Buoyed sentiment in the domestic market slowed due to a

caution which prevailed ahead of US jobs data and concerns

over tighter monetary policy in Europe. On the other hand,

investors gave attention to pharma stocks as part of value

buying which supports the market to recover from intra-day

low,” Vinod Nair, Head of Research, Geojit Financial Services

Ltd said.

The 30-share Sensex, which had closed at a record high of

31,369.34 yesterday, retreated to stay in the negative terrain

for the better part of the session and hit a low of 31,286.62,

before settling at 31,360.63, down 8.71 points or 0.03 per

cent.

It had gained 159.55 points back-to-back in the previous

two sessions and hit record closing high yesterday.

Investors remained cautious ahead of the quarterly

earnings numbers, which are due later this month.

In the Sensex kitty, 20 scrips ended lower while 11

closed higher.

Major losers were ICICI Bank 1.28 per cent, Axis Bank

1.25 per cent, Infosys 1.21 per cent, Asian Paint 1.20 per

cent, Hero MotoCorp 1.11 per cent, HDFC Ltd 1.10 per cent,

ONGC 1.08 per cent, Bajaj Auto 0.79 per cent, ITC Ltd 0.79 per

cent, Maruti 0.66 per cent and TCS 0.54 per cent.

Among sectoral indices, IT dropped by 0.73 per cent,

followed by teck 0.52 per cent, consumer durables 0.37 per

cent, FMCG 0.36 per cent, bank 0.25 per cent and auto 0.17 per

cent, while realty rose by 1.48 per cent, healthcare 1.03 per

cent, oil&gas 0.44 per cent and capital goods 0.15 per cent.

The BSE mid-cap index fell 0.04 per cent while small-cap

index rose 0.26 per cent.

Meanwhile, Foreign portfolio investors (FPIs) sold

shares worth a net Rs 15.29 crore crore yesterday, as per

provisional data released by the stock exchanges. Domestic

institutional investors (DIIs) had bought shares worth a net

Rs 315.95 crore.

Overseas, key indices in Europe like Paris, Frankfurt and

London were trading lower in early trade.

Most Asian stocks dropped following the lower close on

Wall Street yesterday. Japan’s Nikkei fell 0.32 per cent,

while Hong Kong’s Hang Seng ended 0.49 per cent down. In

mainland China, the Shanghai Composite Index, however, settled

higher by 0.17 per cent.

This is published unedited from the PTI feed.