Published on 2/12/2022 3:40:08 PM | Source: ANI

Indian stock indices off their record highs on profit booking

Posted in Business Videos| #News

New Delhi, Dec 02 (ANI): After multiple straight sessions of the rally, Indian stock indices traded marginally lower Friday morning, largely due to profit booking by investors and in line with weak global cues. At 9.20 am, Sensex traded at 63,109.24 points, down 174.95 points or 0.28 per cent, whereas Nifty traded at 18,762.50 points, down 50.00 points or 0.27 per cent. The indices had hit their lifetime highs for the fourth straight day till Thursday. Sensex breached the 63,000 mark on Wednesday. From 60,000 to 63,000, the markets took 14 months time. Robust foreign fund inflows into Indian equities, the appreciating Rupee, and hints by the US central bank about the moderating rate of interest hikes supported investors' sentiment. The US Federal Reserve Chair Jerome Powell on Wednesday (local time) hinted about moderating interest rate hikes in the next monetary policy meeting.