Markets trade flat after closing at lifetime highs

Aug 20 2014, 10:59 IST
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On Tuesday, the Sensex and Nifty closed at their lifetime highs of 26,420.67 points and 7918.55 points, respectively. Reuters On Tuesday, the Sensex and Nifty closed at their lifetime highs of 26,420.67 points and 7918.55 points, respectively. Reuters
SummaryBenchmark indices BSE Sensex, NSE Nifty were trading flat on Wednesday ...

Benchmark indices BSE Sensex, NSE Nifty were trading flat on Wednesday after record high closing on the previous day.

The BSE benchmark, the Sensex was trading 10.75 points or 0.05% lower at 26,409.92 points, while the NSE's Nifty was trading 2.10 or 0.03% lower at 7,895.40 points, at 10.15 am IST.

On Tuesday, the Sensex and Nifty closed at their lifetime highs of 26,420.67 points and 7918.55 points, respectively.

Experts say the rally is likely to continue. "We expect the positive momentum to continue in the near term as long as the Nifty holds 7800 support. The Nifty may touch 7950 in the near term. Resistance is at 7980. Support is at 7800 and below that 7730," Standard Chartered Securities said in its morning note.

Among sectoral indices, the BSE FMCG (-0.37%), BSE Auto (-0.20%) and BSE Capital Goods (-0.20%) were trading in the red. Among individual stocks, ONGC (-1.17%), Hero Motocorp (-1.13%) and SBI (-0.92%) were trading in the red.

Most Asian markets were trading marginally in the green. The Nikkei (0.08%), Hang Seng (0.01%), Straits Times (0.37%), Jakarta Composite (0.26%) and Taiwan Taiex (0.20%) were trading higher.

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