Nifty fails to hold on to record high of 10,000-level; closes in red

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25 July 2017

15:41 IST

The NSE benchmark Nifty closed 1.85 points down to 9,964.55 after breaching the historical 10,000 points mark in opening on Tuesday. Sensex too fell 17.60 points to 32,228.2.

12:18 IST

The NSE Nifty retreated from its historic 10,000 mark to trade in the negative after investors booked profit in bluechips like Reliance Industries and ITC.

The benchmark BSE Sensex also failed to hold on to its record levels and fell by 39.60 points to 32,206.27 points at 11.50 am

11:34 IST

Most analysts agree that prospects are brighter over the long-term, as retail investors continue to invest into mutual funds via monthly instalments. 

Deutsche Bank estimates retail investors have ploughed a record $31 billion into Indian equities through mutual funds since May 2014, more than the estimated $21 billion overall by foreign investors over the same period.

11:33 IST

The NSE has surged 22 percent this year, just behind South Korea`s and Hong Kong`s markets, in a broad-based rally fuelled by a surge in foreign investments and flows from retail investors buying into mutual funds for the first time.

Both investors have bet heavily that economic growth will accelerate from 6.1 percent in the January-March quarter, boosting corporate earnings. Hopes are also high for economic and fiscal reforms after the government unveiled a national goods and services tax this month.

10:45 IST

At 10.15 a.m. the index ceded some of its gains to trade at 9,971.80 points, marginally up by 0.05 percent from its previous close.

10:45 IST

Factors such as hopes of a lending rate cut by the Reserve Bank of India (RBI) in its next policy review meet, along with inflows of foreign funds and consistent projection of healthy economic growth enhanced investors risk taking appetite.

10:22 IST

In trade parlance the NSE Nifty experienced -- the Gap-Up opening -- from its Monday`s close at 9,966.40 points. Nifty touched a high of 10,011.30 points and a low of 9,975.30 points.

09:58 IST

Expectations of healthy quarterly results, coupled with broadly positive global cues lifted the key Indian equity index.

At 9.45 a.m. the index ceded some of its gains to trade at 9,976.80 points, marginally up by 0.10 percent from its previous close.

09:47 IST

The index breached the 10,000-points level mark during the day`s early trade session at 9.15 a.m. just after the pre-open session which lasted for 15 minutes.

Top 10 gainers of Nifty

09:45 IST

Sensex was up by 69.47 points to 32,315.34 at 9.30 am while Nifty was up by 19.50 points at 9,985.90.

The NSE benchmark Nifty was  within striking distance of 10,000 on Monday's closing trade. It surged by 51 points to 9,966.40 as market heavyweight Reliance Industries continued to gain on optimism about its outlook for the core business and telecom venture.

09:30 IST

Nifty rose to a record high on Tuesday by crossing the 10,000 mark. Meanwhile the benchmark BSE Sensex rose 100 points to hit its record high of 32,350.

Nifty was up 44.15 points to reach 10,010.55 in the pre-opening trade.