Indian Markets Turn Negative After Record Highs

Mumbai, Jul 18 (PTI) Equity benchmark indices turned negative soon after hitting new record-high levels in a highly volatile trade on Thursday.

The 30-share BSE Sensex opened on a weak note, but bounced back later and climbed 193.9 points to hit a new record peak of 80,910.45. However, the benchmark failed to hold on to the gains and traded 151.38 points lower at 80,550.97 at 11:22 hours.

Similarly, the NSE Nifty after a weak beginning recovered the early lost ground and climbed 65.9 points to hit a fresh lifetime high of 24,678.90. The Nifty also gave up all the gains and quoted 66.35 points down at 24,546.65.

Among the Sensex pack, Adani Ports, Asian Paints, Tata Steel, NTPC, Power Grid and UltraTech Cement were the biggest laggards.

On the contrary, Tata Consultancy Services, Hindustan Unilever, Bajaj Finserv, Tech Mahindra and State Bank of India were trading in the positive territory.

In Asian markets, Seoul, Tokyo and Shanghai were trading lower, while Hong Kong quoted higher.

The US markets ended mostly lower on Wednesday.

Global oil benchmark Brent crude climbed 0.45 per cent to USD 85.45 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,271.45 crore on Tuesday, according to exchange data.

Stock markets were closed on Wednesday on account of Muharram.

The BSE benchmark climbed 51.69 points or 0.06 per cent to settle at a new lifetime high of 80,716.55 on Tuesday. The NSE Nifty went up by 26.30 points or 0.11 per cent to settle at an all-time closing high of 24,613.