Indian Stock Markets retreats from record high today. The Sensex of the BSE, which scaled a record high of 36,747.87. Sensex In early trade on Wednesday, tumbled over 426.95 points to an intra-day low of 36,320.92 points. Index finally recovered around 52 points from its day’s low to close at 36,373.44 points, down 146.52 points or 0.40%. The Nifty gave up the 11,000 level and settled 27.60 points or 0.25% lower at 10,980.45 points. According to market observers, profit booking at higher levels, along with a mixed trend in the Asian markets and persistent outflow of foreign funds, hampered investors’ risk-taking appetite.
Among the worst performers on the BSE Sensex index were Tata Steel, Vedanta, Tata Motors, Hindustan Unilever, M&M, Axis Bank, Power Grid, Bharti Airtel, Coal India, Adani Ports, ICICI Bank and IndusInd Bank. Tata Steel shares plunged over 5% on the Sensex. In contrast, ONGC shares closed with gains of 2.69%, followed by Asian Paints, HDFC, Yes Bank, Hero MotoCorp, Bajaj Auto and Sun Pharma shares.
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