India Markets closed

India Election Results 2019, market highlights: After hitting record high, Sensex falls 1,314 points; investors book profit

Debashish Pachal
The stock markets pared their intraday gains to end in the negative territory amid heavy profit booking even as trends suggested BJP-led NDA government returning to power. (Express photo by Partha Paul)

India Election Results 2019 and Share/Stock Market Highlishts: The frontline indices on the BSE and the National Stock Exchange (NSE) settled lower on Thursday after a sharp selloff in the afternoon trade, particularly in the final hour of the session as traders booked profits.

Earlier in the day, the indices had scaled new record highs with the S&P BSE Sensex breaching 40,000-mark and the Nifty50 going past the 12,000-mark for the first time as trends of the election results indicated the BJP-led NDA government was returning to power with a big majority.

The S&P BSE Sensex settled at 38,811, down 299 points or 0.77 per cent. The index crashed by 1,314 points after hitting a record high of 40,125 level in the intra-day trade. On the other hand, the broader Nifty 50 index ended at 11,657, down 81 points or 0.69 per cent. The index had breached the 12,000-mark to hit 12,041 levels during the day.

In the broader markets, the S&P BSE MidCap index ended the day at 14,650, down 21 points or 0.15 per cent, while the S&P BSE SmallCap index slipped 16 points or 0.11 per cent to settle at 14,353.

Among the sectoral indices on the NSE, the Nifty FMCG index was the worst performer of the day, slipping 1.73 per cent followed by Nifty Metal index which fell 1.48 per cent. The Nifty Bank index, which had hit 31,000-level mark during the day’s trade, ended up slipping 118 points to 30,409 weighed by heavyweight HDFC Bank which slipped 2.32 per cent to settle at Rs 2,350 per share.

Also read: Lok Sabha Election results 2019 LIVE Updates: BJP set for second term with full majority as Congress falters

The rupee pared its morning gains and was trading on a weak note against the US dollar in the late afternoon trade. It had breached the 70-mark per dollar and was last seen at 70.02 against the US currency. During the morning trade, the domestic currency had risen to 69.37 against the greenback after settling at 69.66 per dollar on Wednesday.