Sensex failed to remain above the 29,000-point mark it breached in Thursday morning taking the cue from US stocks which rose to new records overnight. The National Stock Exchange’s Nifty rose to 8,992.5 points, just 127 points shy of its all-time high, before closing at 8,899.75, down 46.05 points, or 0.51%, from the previous close. “Profit booking in late afternoon trade dragged indices lower,” said Karthikraj Lakshmanan, senior fund manager (equities) at BNP Paribas Asset Management. A global markets rally also supported early buying on Thursday. So far this year, the Sensex and Nifty have gained around 8.5%—comparable to the return delivered by MSCI Emerging Markets index.

Source: Mint March 02, 2017 18:45 UTC