MARKETS SNAP RECORD RUN, EARNINGS CAST A SHADOW

Stocks took a break after four back-to-back record-setting sessions as the benchmark Sensex on the BSE on Friday hit an all-time high,

only to lose its way to end with a paltry loss. The Sensex closed at 32,020.75, down 16.63 points, or 0.05 per cent. The index scaled 32,109.75 on Friday to breach its previous all-time intra-day high of 32,091.52 hit on Thursday. The NSE Nifty index finished lower by 5.35 points, or 0.05 per cent, to close at 9,886.35. Intra-day, it went past the 9,900-mark to hit a fresh lifetime high of 9,913.30, crossing its previous record 9,897.25 on Thursday.

Stocks took a break after four back-to-back record-setting sessions as the benchmark BSE Sensex on Friday hit an all-time high, only to lose its way to end with a paltry loss.

The broader NSE Nifty retreated after breaching the 9,900-mark for the first time ever.

On a weekly basis, the Sensex rose 660.12 points, or 2.1 per cent, and the Nifty 220.55 points, or 2.3 per cent, mainly driven by the successful roll-out of the goods and services tax and consumer price inflation and wholesale price inflation staying soft, giving the Reserve Bank more headroom to snip policy rate at its meeting next month.

This is the biggest weekly gain for the indices since midMarch.

The Sensex closed at 32,020.75, down 16.63 points, or 0.05 per cent. The index scaled 32,109.75 on Friday to breach its previous all-time intra-day high of 32,091.52 hit on Thursday.

The Nifty index finished lower by 5.35 points, or 0.05 per cent, to close at 9,886.35. Intra-day, it went past the 9,900-mark to hit a fresh lifetime high of 9,913.30, crossing its previous record 9,897.25 on Thursday.

The Nifty has rallied 225.90 points, or 2.33 per cent, in four straight days of gains.

Nervousness played on investors’ minds following muted earnings by the country’s largest software exporter Tata Consultancy Services as they took profit in recent bluechip gainers.

“The quarterly earnings growth may not match the current premium valuation due to a tepid start of the result season, while investors giving more weight to the prevailing positive macros will help maintain a positive vibe in the market,” said Vinod Nair, head of research at Geojit Financial Services.

Initial gains dried up following the emergence of profit-booking at record levels.

Domestic institutional investors bought shares worth a net ~279.13 crore, while foreign portfolio investors sold worth a net ~59.15 crore on Friday, provisional data showed.