Sensex and Nifty Break Record Streak as Profit-Taking Drags Indices Down

Market benchmarks Sensex and Nifty ended their record-hitting rally on Friday, closing with losses due to profit-taking in banking, finance, and tech stocks. Despite global equities' positive trend, the indices succumbed to selling pressure in the mid-session. The BSE benchmark lost 210.45 points, and the Nifty dropped by 33.90 points.

The unwavering rise of market benchmarks Sensex and Nifty came to an abrupt halt on Friday as investors opted to book profits in banking, finance, and tech sectors. Despite starting the day on a high, both indices were stymied by mid-session selling pressure.

After charting fresh highs, Sensex tumbled 210.45 points, or 0.27%, to close at 79,032.73, having earlier touched 79,671.58. Concurrently, the Nifty was down 33.90 points, or 0.14%, finishing at 24,010.60 after peaking at 24,174 during intra-day trading.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, remarked, 'Profit taking in banking stocks led to the downfall in key benchmark indices,' emphasizing the markets' volatility. Notably, Sensex and Nifty ended the day maintaining their psychological thresholds of 79,000 and 24,000, respectively.

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