The domestic stock market indices decreased during early trading on Thursday, as profit-taking commenced in domestic equities after a record rally amid weak global market trends. The 30-share BSE Sensex opened lower and decreased by 251.93 points to 80,464.62 in early trade. The NSE Nifty fell 76.6 points to 24,536.40.
Among the Sensex pack, Asian Paints fell by 2% after the company reported a 24.64 percent decrease in consolidated net profit to Rs 1,186.79 crore in the June quarter, impacted by a decrease in demand due to severe heat waves and general elections.
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UltraTech Cement, Tata Steel, JSW Steel, Bajaj Finance, and NTPC were among the other laggards. On the other hand, Axis Bank, Tata Consultancy Services, Sun Pharma, Infosys, and Bharti Airtel bucked the broader market trend and were trading in green.
In Asian markets, Seoul, Tokyo, and Shanghai were trading lower, while Hong Kong was trading in green. The US markets ended mostly lower on Wednesday. The global oil benchmark Brent crude increased by 0.35 percent to USD 85.38 per barrel. Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,271.45 crore on Tuesday, according to exchange data.
Stock markets were closed on Wednesday on account of Muharram. The BSE benchmark climbed 51.69 points or 0.06 percent to settle at a new all-time high of 80,716.55 on Tuesday. During the day, it advanced 233.44 points or 0.28 percent to hit a new record high of 80,898.30.
The NSE Nifty increased by 26.30 points or 0.11 percent to settle at an all-time closing high of 24,613. Intra-day, it rallied 74.55 points or 30 percent to hit a new record peak of 24,661.25.
(With Agencies Input)
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