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Sensex pares gains after touching fresh record high
Mumbai, December 31, 2020
The key Indian equity indices traded on a flat-to-negative note on Wednesday morning after opening in the green.
The BSE Sensex touched an all-time high of 47,807.85 points during the initial trade before shedding the initial gains.
Around 9.40 a.m., it was trading at 47,579.80, lower by 33.28 points or 0.07 per cent from its previous close of 47,613.08.
It opened at 47,789.03 and has so far touched an intraday low of 47,462.03.
The Nifty50 on the National Stock Exchange was trading at 13,932.45. lower by just 0.15 points.
Manish Hathiramani, technical analyst with DeenDayal Investments said: "The markets seem a little nervous to hit the 14,000 mark. We have gone around that level yesterday and today. It is really a mere formality to achieve that as the Nifty seems poised to conquer 14,100 as a potential target."
"A good support lies at 13,600 so traders can consider buying into this trend during any intraday correction," he said