Buy or sell stocks for today: Domestic equity benchmarks Nifty 50 and Sensex took a breather after days of relentless rally to settle flat in the previous session over profit-taking in metal, oil and information technology (IT) shares amid a lack of fresh triggers and weak global trends. Breaking its 10-day winning run, the 30-share BSE Sensex slipped 4.40 points or 0.01 per cent to settle at 82,555.44 in a range-bound trade. During the day, it dropped 159.08 points or 0.19 per cent to 82,400.76.
Broader 50-issue Nifty of NSE eked out gains of 1.15 points to close at a fresh peak of 25,279.85, taking its gaining streak to a record 14 days. Also Read: Stocks to buy: Alembic Pharma to Hindustan Copper—SMC Global Securities lists four stocks to bet on this week In the 10-day rally, Sensex soared 2,135 points or 2.61 per cent. Nifty has surged nearly 1,141 points or 4.59 per cent in 14 straight days.
The Nifty 50 rose 4.7 per cent in a thirteen-session rally, its longest ever, until Monday. Both benchmarks hit lifetime highs in the previous session. The BSE Midcap and Smallcap indices rose 0.19 per cent and 0.54 per cent, respectively.
BSE-listed firms' overall market capitalisation (mcap) rose to nearly ₹465.52 lakh crore from nearly ₹464.85 in the previous session. D-Streets analysts believe a healthy consolidation period is needed to return valuations to more comfortable levels. Global cues are also muted as investors await US macro prints to gauge the size of the potential US Fed rate cut this month.
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