Sensex hits record high and then retreats as TaMo, RIL, Infy weigh on Dalal Street

Dalal Street roared to a record high before giving up all of the day’s gains in a volatile session on Tuesday. Selling pressure seen in auto, IT and PSU bank shares dampened investors’ sentiment. Buying interest witnessed in shares of private lenders provided some support.

The S&P BSE Sensex index ended 18.82 points or 0.04 per cent lower at 52,861.18, having registered an all-time high of 53,129.37 earlier in the day. The broader NSE Nifty50 benchmark settled at 15,818.25, down 16.10 points or 0.10 per cent.

shares ended 8.52 per cent lower at Rs 316.60, recouping some of the losses after hitting a 10 per cent lower circuit, after its subsidiary JLR issued a profit warning over a shortage in semi-conductor chips.

Besides Tata Motors, other top laggards among blue-chip stocks included Tech Mahindra, CIL, TCS, M&M, Maruti Suzuki, and Sun Pharma, ending with cuts of between 1.13 per cent and 2.29 per cent.

On the other hand, UltraTech was the top gainer in the Nifty50 universe, ending 3.23 per cent higher. Shree Cement, HDFC Bank, Bajaj Finance, SBI Life, Bajaj Finserv and Kotak Mahindra Bank, ending between 1.38 per cent and 3.01 per cent higher, were among the top performers.

A drop in Covid-19 infections in the country gave investors some hope, say analysts.

THIS IS A DEVELOPING STORY. MORE TO COME…