Nifty and Sensex Retreat After Record Highs Amid Profit Booking

Friday, 27 September 2024, 05:46

Nifty and Sensex saw a downturn as profit booking took precedence following record-breaking streaks. Investors reacted to market dynamics, impacting performance.
Businessinsider
Nifty and Sensex Retreat After Record Highs Amid Profit Booking

Nifty and Sensex Retreat as Profit Booking Takes Hold

On September 27, 2024, Indian stock market indices experienced a notable decline as profit booking followed a series of record highs. The Sensex achieved a peak of 86,000 during trading, only to close lower at 85,571.85, reflecting a drop of 264.27 points (0.31%). Meanwhile, the Nifty index, after reaching a historic 26,277.35, ended the day at 26,175.15, down 40.90 points (0.16%).

Market Dynamics and Sector Performance

Market participants were primarily engaged in securing profits after a prolonged rally. Sectors like banking, financial services, media, and real estate faced notable pressure.

Expert Insights on Market Trends

  • Vinod Nair, Head of Research at Geojit Financial Services, commented on market trends following this surge.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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