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Both the Nifty and Sensex ended marginally lower after hitting record highs in the previous session due to profit-booking by funds and retail investors and lack of directional cues from global markets. Global stocks gave a muted response to the US Congress's approval of a long-anticipated tax overhaul in the country.
The 30-share BSE index Sensex ended down by 21.10 points or 0.06 per cent at 33,756.28 and the 50-share NSE index Nifty closed lower by 3.9 points or 0.04 per cent at 10,440.30.
Among BSE sectoral indices, capital goods index gained the most by 1.73 per cent, followed by infrastructure 1.22 per cent, power 1.00 per cent and healthcare 0.93 per cent. On the other hand, auto index was down 0.81 per cent, FMCG 0.27 per cent, banking 0.24 per cent and consumer durables 0.11 per cent.
Top five Sensex gainers were L&T (+1.92%), Tata Steel (+1.84%), Hero MotoCorp (+1.45%), NTPC (+0.9%) and Infosys (+0.81%), while the major losers were M&M (-3.74%), Maruti (-1.11%), HUL (-1.09%), Bajaj Auto (-1.08%) and Axis Bank (-0.99%).
M&M slumped as much as 4.1 per cent as the stock turned ex-bonus today.
M&M has been in the midst of action for the last one week after the company announced an across-the-board price increase of 3 per cent on all its vehicle offerings to pass on incremental costs.
On Wednesday, the stock touched a 52-week high of ₹1,571 before closing with a marginal gain at ₹1,556 as investors stepped in to book some profit. The stock had gained 12 per cent from ₹1,370 logged on December 6.
Early trade
The 30-share index jumped 83.61 points or 0.24 per cent, to 33,860.99. It had lost 59.36 points in the previous session.The 50-share NSE index Nifty also moved up by 29.75 points, or 0.28 per cent, to 10,473.95.
Asian shares
Asian markets offered a muted reaction to the passage of US tax cuts as benefits to company bottom lines were already baked into stock prices, while bonds were spooked by the blowout in government debt needed to fund the giveaways.
MSCI's broadest index of Asia–Pacific shares outside Japan dipped 0.1 per cent in thin trade, while Australian stocks lost 0.3 per cent. Japan's Nikkei eased 0.3 per cent, though a softening yen should provide some support to exporters.
Having spent more than a year anticipating the bill, its actual passage proved something of an anticlimax for Wall Street. The Dow fell 0.11 per cent, while the S&P 500 lost 0.08 per cent and the Nasdaq 0.04 per cent.
(With inputs from Reuters)
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