Equity Benchmarks Retreat from Record Highs, Sectoral Trends Mixed

20 Dec 2023 , 01:54 PM

The equity benchmarks experienced a decline from the day’s highs in the afternoon, following a record-setting first hour of trade on December 20.

At noon, the 30-pack Sensex retreated by 300 points from the peak of 71,913, while the broader Nifty was 71 points lower than its new high of 21,593.

Broader indices, including Nifty midcap 100 and smallcap 100, outperformed the benchmarks with gains of 0.6 % and 0.5 %, respectively, during afternoon trading.

While all sectors participated positively in early trade, some profit-booking was observed in metal and PSU banking counters in the afternoon.

On the positive side, Nifty FMCG, consumer durables, and oil & gas sectors continued to perform well, each gaining over 1 %. Despite easing off from early trade, the Nifty IT index remained in the green following Accenture’s muted Q2 revenue guidance. 

For feedback and suggestions, write to us at [e-mail]