Equity Indices Retreat on Profit-Taking and Global Cues After Initial Gains

30 Nov 2023 , 01:30 PM

Equity benchmark indices initially rose on Thursday but later reversed gains due to profit-taking, influenced by the monthly derivatives expiry and a subdued trend in the US markets. At the time of writing Sensex was trading at Rs 66,770 which is a 0.20% dip than previous close. Whereas Nifty was trading at Rs 20,072 which is a 0.12% dip than the previous close. 

Major gainers among Sensex firms included UltraTech Cement, Mahindra & Mahindra, Axis Bank, Wipro, Hindustan Unilever, Sun Pharma, Kotak Mahindra Bank, and Larsen & Toubro.

Laggards on the Sensex included Tata Steel, Reliance Industries, Tata Motors, and NTPC. In Asian markets, Shanghai and Hong Kong traded with gains, while Seoul and Tokyo quoted in the negative territory.

The US markets mostly closed lower on Wednesday, contributing to the negative sentiment. Brent crude, the global oil benchmark, declined 0.18% to USD 82.95 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 71.91 crore on Wednesday, according to exchange data.

On Wednesday, the BSE benchmark surged 727.71 points or 1.10% to settle at 66,901.91, while the Nifty climbed 206.90 points or 1.04% to reclaim the 20,000-mark after over two months, ending at 20,096.60.

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