Markets halt six-day rally; end slightly lower than middle of profit booking

Equity benchmarks snapped their six-session rally to close slightly lower on Thursday amid the booking of profits in banking and energy meters.

Investors also stayed away ahead of the outcome of the RBI’s policy meeting on Friday.

In a choppy trade, the 30-share BSE Sensex finished 51.73 points or 0.09% lower at 58,298.80.

During the day, it reached a low of 57,577.05 and a high of 58,712.66. The wider NSE Nifty fell 6.15 points or 0.04% to end at 17,382.

“Profit-taking finally came into play after 6-session gains as rate-sensitive sectors like banking and property faltered ahead of the outcome of Friday’s RBI policy meeting. Key indices fell most of their losses towards the end as strength in other Asian and European indices bolstered sentiment,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor