Barring Nifty IT and Nifty FMCG indices, all the Nifty sectoral indices were trading in the red.
Share Bazaar News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 pared all the gains minutes after opening at record high levels on Wednesday, amid mixed global cues. BSE Sensex was hovering around 47,500 levels, while the broader Nifty 50 index was testing 13,900 levels. Top contributors to Sensex’ fall were Housing Development Finance Corporation (HDFC), Reliance Industries Ltd (RIL), State Bank of India (India). ICICI Bank and Axis Bank. Top Sensex gainers were HCL Technologies, Hindustan Unilever Ltd (HUL), Tech Mahindra, Nestle India, Power Grid Corporation of India, NTPC, M&M, HDFC Bank among others. At the opening, Sensex hit an all-time high of 47,808, and Nifty 50 hit 13,982.90 record high level. Barring Nifty IT and Nifty FMCG indices, all the Nifty sectoral indices were trading in the red. Nifty PSU Bank index was top loser, down 1.20 per cent.
Indian equities may be valued at their most expensive ever but foreign portfolio investors continue to be buyers. Flows in December have crossed $6 billion and could well hit $7 billion before the month is over. While it’s the abundance of liquidity worldwide that is channelling funds into equities, India seems to be getting more than its fair share of EM allocations.
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