The Indian equity benchmarks ended Wednesday’s volatile session marginally lower as gains in Reliance Industries, HDFC, TCS and Bajaj Finance were offset with losses in HDFC Bank, Infosys, Bharti Airtel, Larsen & Toubro, Axis Bank and ICICI Bank. For most part of the day benchmarks traded with a negative bias as investors were seen booking profits at record highs. However, late buying in last 30 minutes of trade led to indexes close on a flat note. The Sensex moved in a band of 667 points and Nifty 50 index touched an intraday high of 15,168.25 and a low of 14,977.20.
The Sensex ended 20 points lower at 51,309 and Nifty 50 index slipped 3 points to settle at 15,106.
The Sensex and Nifty have gained more than 10 per cent in February on optimism from a high-spending budget and upbeat corporate earnings, but with benchmarks already scaling multiple record highs, the rally has been losing steam.
“Nifty can go down to 14,800 levels in the near term on account of profit booking at record highs. Traders should sell Nifty with target of 14,800,” Sumeet Bgadia, associate director at Choice Broking told NDTV.
