Indian stock indices opened on a firm note Friday, following five straight sessions of losses, primarily due to fresh accumulation of stocks by investors following the latest dip.
The Nifty index fell by 0.95 percent, losing 216 points to close at 22,488.65. Similarly, the BSE Sensex dropped by 0.83 percent, shedding 617 points to end at 73,885.
On Wednesday morning, Indian stock indices consolidated from where they were at the previous session closing. After a stellar rally over the past few weeks, markets faced some resistance this week.
New Delhi [India], May 28: The Primex 40, an index tracking the performance of the top 40 Indian private companies in unlisted and delisted markets, recently achieved an all-time high of 2763.89, growing over 236 basis points since the last record-high achieved on November 1, 2021. The Prime
Indian stock markets closed marginally below on Tuesday after a high volatility during the trading. The equity markets experienced a pause after a three-day streak of record highs.
After a stellar rally over the past few weeks, markets faced some resistance over the past couple of sessions. At Tuesday opening bell, indices Sensex and Nifty traded marginally higher with a downside bias.
The S&P BSE Sensex breached the remarkable 76,000-mark for the first time, hitting 76,010, while the NSE Nifty50 scaled a new summit at 23,111 before retracting into negative territory.
At 9.19 am, at the time of filing this report, Sensex was 0.2 per cent higher at 75,585 points, after touching an all-time high of 75,679 points soon after the opening bell.
The Indian benchmark indices are expected to witness a gradual upward movement in the coming week after the strong performance last week, which closed on a flyer, say market analysts.
However, in the past few sessions, they seemed to have slowed down on selling, expecting a strong performance in the indices. Both Nifty and Sensex also touched all-time highs this week, accumulating huge sums of money for investors.