Mumbai, July 25 (IANS) Erasing morning gains, the Indian equity markets provisionally closed on a flat note with marginal losses. However, both the NSE Nifty and the BSE Sensex scaled fresh highs during intra-day trade on Tuesday.
According to market observers, the key equity indices were lifted on expectations of healthy quarterly results, coupled with hopes of a lending rate cut by the Reserve Bank of India in its next policy review, inflows of foreign funds and consistent projection of healthy economic growth.
At 3.30 p.m., the wider Nifty of the National Stock Exchange (NSE) was lower by 1.85 points or 0.02 per cent to provisionally close at 9,964.55 points.
The Nifty, which breached the 10,000-point level during the day’s early trade (at 9.15 a.m.) just after the pre-open session, touched a fresh high of 10,011.30 points during the intra-day trade.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,350.71 points, closed at 32,228.27 points — down 17.60 points or 0.05 per cent — from its previous close at 32,245.87 points.
The Sensex also touched a record high of 32,374.30 points during the intra-day trade.
The BSE market breadth was bearish with 1,473 declines and 1,200 advances.
On Monday, the benchmark indices were lifted to new highs on the back of healthy quarterly results, coupled with intense buying activity witnessed in index heavyweights such as HDFC Bank, Reliance Industries (RIL), ITC and Infosys.
The Nifty rose by 51.15 points, or 0.52 per cent, to close at a fresh high of 9,966.40 points, after it touched a record high of 9,982.05 points during intra-day trade.
Similarly, the Sensex closed at a new high of 32,245.87 points — up 216.98 points, or 0.68 per cent.