Benchmark indices Sensex and Nifty retreated from their lifetime highs on Friday due to gains recorded, especially by leading stocks like HDFC Bank and ICICI Bank. The BSE Sensex was down 264.27 points (0.31%) at 85,571.85, while the NSE Nifty was down 37.10 points (0.14%) at 26,178.95.
Special draw: HDFC Bank and ICICI Bank
Of the 30 companies listed on the Sensex, Power Grid, HDFC Bank, ICICI Bank, Bharti Airtel and Kotak Mahindra Bank saw the biggest declines. In contrast, Sun Pharma, Reliance Industries, Titan and HCL Technologies were among the top gainers.
Benefit-taking stops the flow
Vinod Nair, head of research at Jiojit Financial Services, said the indices moved sideways as investors took substantial gains after the recent rally. Despite the correction, Asian and European markets ended in positive territory, while the U.S. closed lower. markets largely closed.
FII and DII programs
Foreign institutional investors (FIIs) were the actual buyers, buying stock worth ₹629.96 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth ₹2,405.12 crore.
Brent watches the raw slight dip
Global benchmark Brent crude fell slightly, to $71.58 a barrel, down 0.03%.
The Sensex had gained 666.25 points in the previous session on Wednesday, ending at an all-time high of 85,836.12 points. Similarly, the Nifty had gained 211.90 points to 26,216.05 points.
