Sensex, Nifty Pull Back From Record Highs

The benchmark Sensex closed down 0.76% at 38,811.39, with investors booking profits after it crossed 40,000 for the first time ever.

Subhranshu Sahu

The benchmark Sensex closed down 0.76% at 38,811.39, with investors booking profits after it crossed 40,000 for the first time ever.

sensex nifty pull back from record highs

A screen displaying an image of India's Prime Minister Narendra Modi is seen on a facade of the Bombay Stock Exchange (BSE) building in Mumbai, India, May 23, 2019. Credit: REUTERS/Francis Mascarenhas

New Delhi: Indian shares ended lower on Thursday, after hitting record highs earlier in the session as Prime Minister Narendra Modi scored a thumping victory in the general elections.

Modi's Bharatiya Janata Party was leading in 299 of the 542 seats contested in the lower house of the parliament as of 10:13 GMT, official data from the Election Commission showed.

The benchmark Sensex closed down 0.76% at 38,811.39, with investors booking profits after it crossed 40,000 for the first time ever.

The broader Nifty ended 0.69% lower at 11,657.05, having eclipsed 12,000 earlier in the session.

The Nifty rose 64.8% during Modi's first term through Wednesday's close, and the Sensex gained 63.6%.

Adani Ports and Special Economic Zone and Zee Entertainment Enterprises were the top percentage gainers on the Nifty, closing up over 5% each.

Vedanta Ltd closed down 5.4%, while Eicher Ltd settled 4.3% lower.

(Reuters)

This article went live on May twenty-third, two thousand nineteen, at six minutes past six in the evening.

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