Financials News

Sensex off record highs, down 52 points in late morning trade

Sensex off record highs, down 52 points in late morning trade

Mumbai: The S&P BSE Sensex came down from its record peaks, slipping 52.28 points amid profit-booking in recent gainers from healthcare, telecom, banks, financials, FMCG and consumer durable sectors as caution crept ahead of key government macro data to be released later today.

The industrial production data (IIP) for March and April inflation data based on consumer price index (CPI) will be announced after market hours today, while weak Asian trend also dampened sentiments.

The Sensex resumed higher at 30,285.61 and hovered between 30,299.74 and 30,152.23, it was quoting at 30,198.70 at 1100 hrs, showing a loss of 52.28 points, or 0.17 per cent.

The NSE 50-share Nifty was also trading down by 21.15 points, or 0.22 per cent, to 9,401.25 at 1100 hrs. Major losers were Asian Paints (2.72 per cent), GAIL (1.64 per cent), ICICI Bank (1.15 per cent), Axis Bank (0.89 per cent) and HDFC (0.85 per cent).

Meanwhile, FIIs bought shares net worth Rs 1,306.71 crore yesterday as per the provisional figures issued by the stock exchanges.

Overseas, Asian stocks were mixed. US stocks retreated yesterday as a clutch of weaker-than-expected earnings reports and lingering concerns that President Donald Trump`s pro- business agenda may face delays lowered buying appetite.