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Sensex, Nifty End Flat After Scaling Record Highs; RIL Ends Near Day's Low

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After opening at a record high on robust global cues, indices towards the end of the trade were seen trading flat. Bank Nifty underperformed while broader markets traded with mild gains.

 

At the close, Sensex ended higher by 14 pts. at 52,588.7, while Nifty ended with gains of 26 points at 15,773.

Among the Nifty sectoral indices, weakness was seen in the realty, private bank, FMCG and financial service space.

Sensex, Nifty End Flat After Scaling Record Highs; RIL Ends Near Day's Low

IOB and Central Bank of India hit their fresh 52-week highs but settled lower with gains of 5% and 3.7%, respectively.

Jet Airways stock was locked in 5% upper circuit after the National Company Law Tribunal (NCLT) has given a go-ahead to the Kalrock-Jalan consortium's resolution for the beleaguered airline firm. As per the leading business channel report, the NCLT Mumbai branch has assigned 3 months time to MCA and DGCA to allot slots to the airline from the date of approval of the resolution i.e. June 22, 2021.

RIL stock was in focus after Goldman Sachs iterated that Retail shall be the major push for RIL. After the pandemic hit the country, the sector has been hit hard. Nonetheless, the global brokerage is of the view that the scene for the retail industry is going to change in the near future.

 

European markets at the time of writing this report traded mixed with FTSE trading higher, while German DAX and French CAC were weak in trade.

GoodReturns.in

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