The BSE benchmark Sensex fell almost 72 points to slip below the 8,900-mark in early trade on Thursday owing to increased selling in various counters by participants in recent gainers. Sector leader Maruti Suzuki hit an all-time high after rising 2.71 percent to Rs 5,482.40.
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The 50-scrip NSE Nifty was trading with minor losses of around five points at 8,937 after reaching an intraday high of 8,951.
Asian Paints was the top loser with a deficit of 1.92 per cent followed by HDFC Ltd (1.87 pc), Axis Bank (1.72 pc), NTPC (1.50 pc), TCS (1.49 pc), GAIL (1.47 pc) Power Grid (1.42 pc), HDFC Bank (0.87 pc) and Bajaj Auto (0.69 pc).
“Market turned positive with continued liquidity while IT bellwethers were the laggards today due to reduction in revenue estimate, which capped the upside”, said Vinod Nair, Head of Research at Geojit BNP Paribas Financial Services.
Besides, mixed global cues also influenced investor’s sentiment, pulling the 30-share barometer down by 71.80 points or 0.24 per cent at 28,854.56 in early trade.
The index had risen 554.54 points in the last two sessions on bullish overseas cues after weak USA jobs data dimmed hopes of an interest-rate hike by the Federal Reserve in near-term.
Tracking gains in bluechip stocks, investors were also seen building up position in broader markets, lifting the small-cap and mid-cap indices by 0.83 and 0.15%.
NSE Nifty after shuttling between 8,968.70 and 8,913.35 settled 25.05 points or 0.28 per cent lower at 8,917.95.
Japan’s Nikkei slipped 0.2%, erasing gains after reports North Korea may have conducted a nuclear test, the report said.
On Wednesday, the Sensex was down 51.66 points, or 0.18 per cent at the closing.
The rally on the 30-scrip BSE Sensex was led by a diversified set of stocks that rose to new year highs.
Major gainers included Sun Pharma (3.69 percent), Tata Steel (3.32 percent), Lupin (2.44 percent), Hero MotoCorp (2.43 percent), HUL (2.13 percent), Cipla (1.98 percent), RIL (1.45 percent), Dr Reddy’s (1.44 percent), ITC (1.38 percent) and L&T (1.30 percent).
Both indexes fell as much as 0.25 percent earlier in the session.
Market breadth was negative with 1,187 advances against 932 declines.
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The total turnover on BSE amounted to Rs 3,978.93 crore, lower than turnover of Rs 4,178.26 crore registered yesterday.
