Share market today: The two key equity benchmark indices, Sensex and Nifty, tumbled on Friday as investors preferred to book profits after four days of record-breaking rally and weak trends from global markets. Fall in blue-chip Reliance Industries also dragged the benchmarks lower.
The 30-share BSE Sensex hit its new all-time high of 81,587.76 in the initial trade but failed to carry forward the winning momentum and tanked 738.81 points or 0.91 per cent to settle below the 81,000-mark at 80,604.65. During the day, it plunged 844.36 points or 1.03 per cent to 80,499.10. The BSE benchmark had hit the 81,000-mark for the first time on Thursday.
On the other hand, the NSE Nifty tumbled 269.95 points or 1.09 per cent and ended at 24,530.90 after hitting its fresh record peak of 24,854.80 during the opening bell. During the day, it declined 292.7 points or 1.18 per cent to 24,508.15.
Stock update
Among the Sensex pack, Tata Steel tumbled over 5 per cent while JSW Steel tanked nearly 5 per cent. Tata Motors, NTPC, UltraTech Cement, Tech Mahindra, Bajaj Finance, Power Grid, Mahindra & Mahindra, and Reliance Industries were the other major laggards. Infosys climbed nearly 2 per cent after the IT major reported a 7 per cent rise in consolidated net profit at Rs 6,368 crore in the April-June quarter. ITC, Asian Paints and HCL Technologies were the other gainers.
In the broader market, the selling steeper with the BSE Midcap and Smallcap indices declining 2.2 per cent each.
Sectoral update
All the sectoral indices ended in the red zone, led by the Nifty Metal (4 per cent), the Nifty Realty (2.66 per cent), and the Nifty Auto (2.4 per cent).
In the previous session on Thursday, the BSE benchmark Sensex jumped 626.91 points or 0.78 per cent to settle at a fresh closing high of 81,343.46, while the NSE Nifty climbed 187.85 points or 0.76 per cent to settle at an all-time closing high of 24,800.85.
Global update
In Asian markets, Seoul, Tokyo and Hong Kong settled lower while Shanghai ended in the green. European markets were trading lower. The US markets ended in negative territory on Thursday.
Global oil benchmark Brent crude declined 0.07 per cent to $85.05 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore on Thursday, according to exchange data.
Rupee sinks 3 paise
The rupee consolidated in a narrow range and depreciated 3 paise to close at its all-time low of 83.66 (provisional) against the US dollar on Friday, weighed down by strong American currency and muted trend in domestic equities. Forex traders said weak domestic markets and elevated oil prices pressured the rupee, however, likely Reserve Bank of India (RBI) intervention prevented a sharp fall in the domestic unit.
At the interbank foreign exchange market, the local unit opened at 83.64, and touched an intra-day high of 83.60 and a low of 83.66 against the dollar during the trading session. It finally settled at an all-time low level of 83.66 (provisional) against the American currency, registering a loss of 3 paise from its previous close. On Thursday, the rupee depreciated 5 paise and settled at a new low of 83.63 against the US dollar.