Sensex edges lower 15 points, Nifty retreats from record highs to end flat

PTI

Mumbai, February 23

Benchmark stock indices Sensex and Nifty edged lower in a volatile trade on Friday, reversing early gains due to selling in IT and select banking shares.

The 30-share BSE Sensex slipped 15.44 points or 0.02 per cent to close at 73,142.80 points with 17 of its constituents closing in the red and 13 in the green.

The index opened higher but later slipped into losses due to profit-taking by investors. The barometer oscillated between a high of 73,413.93 and a low of 73,022 during the day.

The broader Nifty of NSE closed lower by 4.75 points or 0.02 per cent at 22,212.70 points as gains in FMCG, pharma and financial shares were offset by losses in IT and private bank shares.

The 50-share barometer scaled a record high of 22,297.50 in intra-day trade.

Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers.

On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.

Reliance Industries rose by around 1 per cent to hit a 52-week high intra-day. Its arm Reliance Jio Financial Services soared by more than 14.5 per cent to hit a year’s high level, taking its market valuation to more than Rs 2 lakh crore.

Global markets were mostly higher following sharp overnight gains in US markets driven mainly by stunning December quarter results by technology company Nvidia.

The Shanghai Composite index added 0.6 per cent while Hong Kong’s Hang Seng was unchanged. Tokyo’s markets were closed for a holiday. Germany’s DAX, the CAC 40 in Paris and FTSE 100 in London rose up to 0.1 per cent.

In the domestic market, Foreign Portfolio Investors (FPIs) were net sellers on Thursday as they offloaded securities worth Rs 1,410.05 crore.

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