Friday, Jun 02, 2023 | New Delhi 31*C

Sensex Closing Bell: Sensex-Nifty closes in the red, closing weak after hitting record highs

Sensex Closing Bell: The Sensex and Nifty were seen selling at higher levels after hitting record highs during the opening trading session on Monday. Sensex and Nifty were seen traveling between the green and red mark during the day's trading session.
3 Day ago

Domestic stock markets closed in the red on Monday. However, Sensex crossed 77000 and NSE Nifty crossed 23400 for the first time before the close. The 30-share BSE Sensex touched 77,079.04 for the first time in the early trading session on Monday after the swearing-in. On the other hand, the NSE Nifty touched a record high of 23,411.90 for the first time.

The Sensex closed down 203.28 (-0.26%) points at 76,490.08 on Monday. On the other hand, the Nifty closed down 30.96 (0.13%) points at 23,259.20.

On Monday, the stock market closed in the red on the first trading day of the week. At the end of trading, the Sensex fell 203 points to 76,490 while the Nifty also fell 30 points to close at 23,259. The Sensex rose 386 points to touch an all-time high of 77079 in early trade. The Nifty was also up 121 points at a record high of 23,411.

Due to market growth

After the swearing in of Narendra Modi, more clarity is being seen regarding the central government. The National Democratic Alliance (NDA) led by the Bharatiya Janata Party formed the government. Hence Sensex has reached a record high of 77079.

Inflation figures for the month of May are going to be released on June 12. Economists expect retail inflation to fall to 4.80% in April from 4.83%. Keeping inflation under control is a positive sign for the stock market.

Reliance, Axis Bank, Power Grid, Ultratech Cement and NTPC were the top contributors to the stock market rally. Infosys, HDFC Bank, TCS, HCL Tech and Tech Mahindra are dragging down the market.

US markets were lower on Friday

American markets closed lower on Friday. The Dow Jones lost 87 points to close at 38,799. The Nasdaq Composite fell 40 points. It closed at the level of 17133. The S&P 500 index closed down 6 points at 5346.

On June 7, the Sensex hit an all-time high of 76,795

The Sensex hit an all-time high of 76,795 on the last trading day of the week on June 7 after the Reserve Bank raised the GDP forecast. However, it later edged lower and the Sensex closed up 1,618 points at 76,693.

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