The markets touched fresh lifetime highs in a choppy session on Tuesday. The BSE benchmark, the Sensex touched new record high of 22,079.96 points, while the NSE’s Nifty touched new lifetime high of 6,595.45 points.
The 50-share Nifty ended at a new lifetime high of 6,589.75 points after gaining margingally. The Sensex ended flat at 22,055.21 points.
Experts feel foreign institutional investors (FIIs) could take some money off the table. “There could be some FII selling pressures after massive inflow in the last couple of days. Further expect volatility because of March derivative segment expiry this week,” said Standard Chartered Securities in its morning note.
Among sectoral indices, the BSE Oil & Gas (-1.46%), BSE IT (-0.77%) and BSE Healthcare (-0.06%) were the major losers. Among individual stocks, Reliance Industries (-2.87%), Wipro (-2.58%) and Sesa Sterlite (-1.55%) were the major losers on the 30-share Sensex.
Among Asian indices, the Hang Seng (-0.52%), Kospi (-0.22%), Straits Times (-0.25%) and Jakarta Composite (-0.37%) were the major losers.
China’s flash Markit/HSBC Purchasing Managers’ Index (PMI) for March, which was released on Monday, fell to an eight-month low of 48.1.
Experts feel the Chinese government could launch a new stimulus package. “While the Lunar New Year partially hampers interpretation, the sagging industrial production data suggest that GDP growth momentum is now the worst since late 2008,” said Richard Iley, chief Asia economist, BNP Paribas in a recent report. “More policy stimulus is likely forthcoming,” he added.
