Stock Markets Snap Five-Day Winning Streak on Profit Booking

Stock Markets Snap Five-Day Winning Streak on Profit Booking

VoM News Desk | January 16, 2024 | 04:28 PM IST | Breaking News | Follow on Google News

Stock Markets Snap Five-Day Winning Streak on Profit Booking

Stock Markets Snap Five-Day Winning Streak on Profit Booking

Equity benchmarks Nifty 50 and Sensex ended their five-day winning streak as profit booking occurred in shares of select heavyweights, including Reliance Industries, Infosys, TCS, and HCL Tech. The dip was influenced by weak global cues, with Asian shares hitting a one-month low and European markets trading lower. The brief upswing during the session allowed Nifty 50 to touch a new record high of 22,124.15, but it closed 65 points lower at 22,032.30. Sensex reached a record high of 73,427.59 but settled at 73,128.77, down 199 points. Analysts suggest that despite inflation concerns, the market is considering the possibility of modest rate cuts this year.

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