Indian equities trade in red, Nifty crosses 9700 intra-day


The domestic equities continued their stellar record- breaking stint for the second session today, with stock benchmarks capturing new intra-day highs on the back of strong liquidity driven rally amid mixed global cues.

The NSE index Nifty touched 9,700 for first time and the benchmark BSE Sensex hit fresh all-time high of 31,430.32 in early trade. The Nifty IT - NSE's sub-index for IT stocks - jumped 2.3 per cent. HCL Tech was the top gainer in Nifty, up 3.58 per cent followed by TCS, Infosys, Tech Mahindra and Wipro, which added between 0.9 per cent to 3.55 per cent.

Turnover in the cash segment fell to Rs 20,992.61 crore, from Rs 22,302.61 crore last Friday. The pan-European Stoxx Europe 600 index slipped 0.1 percent. The BSE Midcap and BSE Smallcap indices closed 0.61 per cent and 0.64 per cent lower respectively. The company said that the National Company Law Tribunal (NCLT), bench at Ahmedabad, approved of the merger of Aditya Birla Nuvo (ABNL) and Grasim Industries to be followed by the listing of Aditya Birla Financial Services (ABFSL).

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Overseas, Asian stocks declined following a lower closing at Wall Street yesterday and the impact of diplomatic tensions between Qatar and other Middle Eastern nations gradually sunk in.

The Sensex, too, closed at a new high of 31,273.29 points after scaling a record high of 31,332.56 points intra-day. Major losers were Tata Motors 3.58 per cent, NTPC 2.65 per cent, ONGC 2.28 per cent, ITC 2.05 per cent, L&T 1.60 per cent, Sun Pharma 1.53 per cent, Reliance 1.17 per cent, Bharti Artl 1.07 per cent, Power Grid 0.93 per cent, Bajaj Auto 0.88 per cent, M&M 0.83 per cent and Hero Motoco 0.70 per cent. South Korean markets are closed for Memorial Day. It was last up 0.25 percent at 9,677.55 as of 0607 GMT. The Institute for Supply Management's index on the services sector fell 0.6 points in May, though it remains in solidly positive territory.