Sensex Fails To Hold 56,000 Levels, Nifty Drops To 16569

Indian indices after logging fresh highs for yet another day have pared some of the day's gains while broader markets showed some resilience. At the close, Nifty settled lower 46 points or 0.28% at 16,569 by while Sensex ended below 56,000 levels at 55,630 points, down 163 points or 0.29%.

Sensex Fails To Hold 56,000 Levels, Nifty Drops To 16569

In intra-day trade today, both Sensex and Nifty logged an all time high of 56,119 and 16,702, respectively.

The set of Nifty gainers in trade today included stocks like Eicher Motors, Ultratech Cement, Bajaj Finance, Bajaj Finserv and Adani Ports, while laggards comprised stocks such as Hindalco, Kotak Mahindra, SBI Life Insurance, ICICI Bank and Power Grid.

Among Nifty sectoral indices, FMCG index traded with most gains followed by Pharma and PSU Bank towards the later part of the trade, while all other indices traded in the red.

Cement stocks in intra-day trade saw a good rally with some of the counters like Dalmia Bharat gaining 2.5% to Rs. 1910, Shree Digvijay again up by over 2%, UltraTech Cement up 4%.

Market experts are of the view that as the market continues to be in a bullish zone, every dip is a buying opportunity in large caps.

Meanwhile, European indices traded weak by up to 0.27% on the FTSE index.

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