Stock market slips from record high, Sensex falls 168 points

Mumbai: In stock market the rally in the local stock markets for the last three trading sessions came to an end on Monday and the BSE Sensex fell 168.66 points, falling below the record high. The decline was due to profit-booking by investors amid weak trend in most of the Asian markets. BSE’s 30-share index Sensex closed at 71,315.09 points, down 168.66 points or 0.24 percent. At one time during trading it had fallen to 341.46 points.

National stock exchange : NSE

index Nifty also closed at 21,418.65 points with a decline of 38 points or 0.18 percent. Among Sensex companies, Power Grid, ITC, JSW Steel, ICICI Bank, Tech Mahindra, Infosys, IndusInd Bank and Mahindra & Mahindra Bank were major losers. On the other hand, the profitable stocks include Sun Pharma, Reliance Industries, HCL Tech, Hindustan Unilever, Bajaj Finance and Maruti. Vinod Nair, head of research, Geojit Financial Services, said, “The market started with a decline. Concerns over disruption of oil supplies through the Red Sea and high stock valuations weighed on investor sentiment.

BSE :

In other markets of Asia, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were in loss while South Korea’s Kospi was in profit. There was a mixed trend in early trade in major markets of Europe. US markets were in profit on Friday. Meanwhile, global oil benchmark Brent crude closed 0.29 per cent lower at $76.33 per barrel. According to stock market data, foreign institutional investors bought shares worth Rs 9,239.42 crore on Friday. On Friday, Sensex closed at its highest ever level at 669.55 and Nifty at 273.95 points.