Stock Markets Halt Their 5-Day Winning Streak On Profit-Taking In IT Equities And Poor Global Cues

On Tuesday, stock markets ended their five-day winning streak with the benchmark Sensex falling by 199 points due to profit-taking in IT and energy stocks as well as weak global trends.

The 30-share BSE Sensex fell 199.17 points or 0.27 percent to 73,128.77. The index opened down but recovered in late-morning trading to reach an all-time intra-day high of 73,427.59.

The Nifty reached an all-time intra-day high of 22,124.15 before falling 65.15 points or 0.29 percent to 22,032.30.

In the last five days, the BSE benchmark has risen 1,972.72 points or 2.76 percent, while the Nifty climbed 584.45 points or 2.71 percent.

Wipro, HCL Technologies, NTPC, Reliance Industries, Infosys, IndusInd Bank, Tech Mahindra, and Tata Consultancy Services were the top laggards on Sensex.

Among the gainers were Tata Steel, Titan, Maruti, Larsen & Toubro, ITC, and JSW Steel.

In Asian markets, Seoul, Tokyo, and Hong Kong closed lower, while Shanghai closed higher.

European markets were trading down.

On Monday, the US stock markets were closed in honor of Martin Luther King, Jr. Day.

Brent crude gained 0.68 percent to USD 78.68 per barrel.

According to the exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 1,085.72 crore on Monday.

On Monday, the BSE benchmark soared 759.49 points or 1.05 percent to 73,327.94, while the Nifty surged 202.90 points or 0.93 percent to 22,097.45

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