Sensex, Nifty close marginally lower after hitting fresh lifetime highs

Indian Stock Market Sees Slight Decline After Hitting Fresh All-Time Highs

The Indian stock market, represented by the benchmark indices Sensex and Nifty, experienced a marginal decline on Monday after hitting their all-time highs due to profit-taking at higher levels and foreign fund outflows.

Key Highlights:

• The 30-share BSE Sensex closed 64.77 points or 0.08 per cent lower at 85,641.90.
• The 50-share NSE Nifty dipped 27.20 points or 0.10 per cent to settle at 26,175.75.
• The Sensex and Nifty hit record intra-day highs of 86,159.02 and 26,325.80 respectively.

Market Analysis:

Markets faced correction at higher levels as expectations of an RBI rate cut this week faded following better-than-expected Q2 GDP growth, an expert said.

Expectations of a rate cut had driven the market to its record highs after India's economy grew at a higher-than-expected 8.2 per cent in July-September.

Top Performers and Laggards:

• Major Laggards:
  • Bajaj Finance
  • Sun Pharma
  • Trent
  • Mahindra & Mahindra
  • State Bank of India
  • Bajaj Finserv
• Top Gainers:
  • Tata Motors Passenger Vehicles
  • Maruti
  • Bharat Electronics
  • Kotak Mahindra Bank
  • Adani Ports
  • HCL Tech

Global Market Trends:

In Asian markets, Shanghai's SSE Composite index and Hong Kong's Hang Seng index settled in positive territory, while South Korea's Kospi and Japan's Nikkei 225 index ended lower.

Markets in Europe were trading lower, while US markets ended higher on Friday.

Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs):

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,795.72 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 4,148.48 crore, according to exchange data.

Brent Crude Prices:

Brent crude, the global oil benchmark, jumped 1.96 per cent to USD 63.60 per barrel.