After hitting fresh lifetime highs in early trade, the domestic equity indices succumbed to profit-booking during the fag end of the session to end lower amid caution ahead of derivates expiry tomorrow. BSE Sensex lost 98.80 points or -0.29 per cent to close at 33,911.81 today, while the Nifty50 closed the day at 10,490.75 today, down 40.75 points or -0.39 per cent, tracking weak global cues in the afternoon trade. Out of 50 stocks in the Nifty50 index, only 13 closed in the green, while 37 closed in the red today.
The benchmark indices pared all intraday gains to settle lower today with the Nifty50 slipping below its crucial 10,500 level following news reports that the government may announce additional borrowing after the mop-up under the goods and services tax (GST) in November fell to just above Rs 80,000 crore. The S&P BSE Sensex and the Nifty50 had hit their respective record highs in the early trade.
Profit booking at higher levels dragged the Nifty50 index down today. During the process, a negative body occurred on the candles, but it does not make any significant formation on the daily charts. The market witnessed bouts of profit-taking at higher levels in the last hour of the trade, and is likely to remain volatile ahead of F&O expiry tomorrow. Going into trade on Thursday, the Nifty will have to move past and trade above 10,490 levels to avoid any weakness. Any slip below this level will see the market being forced into some more corrective consolidation.