As the rapid recovery of the rupee against the dollar and the buying of foreign investors stopped, the boom in the banking, finance, FMCG and realty shares in the Indian stock market has come to a halt due to the profit book.
85000 for the first time intra-day, while the Nifty closed 14.57 points lower at 84914.04 after touching 26000. The intraday rose 234.62 points to hit a new all-time high of 85163.23. The Nifty rose 1.35 points to close at a new high of 25940.40. With a new peak in the midcap segment, investors' capital also rose to a new high of 476.08 lakh crores. The rupee weakened by 11 paise against the dollar and closed at 83.65.
Domestic benchmarks are struggling to sustain fresh highs due to aggressive rate cuts by the US Fed. Meanwhile, China's central bank's rate cut and additional positive measures have positively impacted global investor sentiment. As a result local metal stocks saw a rise.
Marketbreathed negative, FII buying breaks Sentiment has been pro-safety with market breadth remaining negative. Out of the total 4076 traded on BSE, 1878 scrips advanced and 2112 scrips declined. Domestic investors were supported by buying of 3868.31 crore against selling of 2784.14 crore by foreign investors.
The IPO of Divyadhan Recycling Ind. will open on 26 September Divyadhan Recycling Industries Limited, a manufacturer of recycled polyester staple fiber and recycled pellets, will open its IPO on September 26. ₹24.17 crore is to be raised through the IPO, in which the shares will be listed on the NSE Emerge platform.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
