Profit booking subdues equity indices, realty stocks down
Mumbai, August 10, 2021
India's equity markets closed Tuesday's trade session on a flat-to-positive note amidst profit booking as well as volatility unleashed by global cues.
On the up side, the NSE Nifty50 touched a record high of 16,359 during the session.
In Asia, markets were mixed as the Delta coronavirus variant spread rapidly across the region.
On the other hand, European stocks inched to new highs on Tuesday as investors backed the region's recovery from coronavirus lockdowns and awaited the release of US inflation data.
Segment wise, telecom and IT stocks rose the most while realty, power, and metals fell the most.
The S&P BSE Sensex closed at 54,554.66, higher by 151.81 points, or 0.28 per cent, from its previous close.
The NSE Nifty50 ended the day's trade at 16,280.10, higher by 21.85 points, or 0.13 per cent, from its previous close.
"Indian benchmark indices surged up in late trade to end marginally in the positive on Aug 10. Nifty opened mildly higher, rose in the early part of the day to make an intra day high at noon," HDFC Securities' Head of Retail Research, Deepak Jasani, said.
"An half an hour sharp selloff post 1.40 p.m. took indices down. Later a recovery ensued in the later part of the session."
Motilal Oswal Financial Services' Head, Retail Research, Siddhartha Khemka, said: "Despite Nifty ending in green, the overall market breadth was very weak. Midcaps and smallcaps continued to bleed as profit booking sets in post sharp rally witnessed in them over the last 2-3 months."
"The primary market continues with flurry of activity with as many as 4 IPOs lined up next week."