Sensex, Nifty start on choppy note amid weak global cues
Profit-booking at higher levels is leading to bouts of correction in the market, traders say
Equity benchmarks Sensex and Nifty started on a choppy note on Thursday, July 8, 2021, amid a negative trend in Asian peers.
The 30-share BSE index was trading 3.34 points or 0.01 per cent higher at 53,058.10 in initial deals, while the broader NSE Nifty inched 8.95 points or 0.06 per cent lower to 15,870.70.
Bajaj Auto was the top gainer in the Sensex pack, rising nearly 2 per cent, followed by Tech Mahindra, NTPC, IndusInd Bank, PowerGrid, M&M and HCL Tech.
On the other hand, UltraTech Cement, HUL, Sun Pharma and Nestle India were among the laggards.
In the previous session, Sensex climbed 193.58 points or 0.37 per cent to close at its fresh lifetime high of 53,054.76, and Nifty rose 61.40 points or 0.39 per cent to its record 15,879.65.
FIIs net buyers
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth ₹532.94 crore on Wednesday, as per provisional exchange data.
Domestic equities do not look to be inspiring as of now. Notably, visible improvement in business momentum with ease of business curbs by states started offering comfort, said Binod Modi Head-Strategy at Reliance Securities.
However, profit-booking at higher levels is leading to bouts of correction in the market, traders said.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading in the red in mid-session deals.
US equities ended on a positive note in the overnight session.
Meanwhile, international oil benchmark Brent crude advanced 0.01 per cent to USD 73.44 per barrel.
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