The endless boom in the stock market was halted today, Sensex and Nifty closed down, know the condition of the stock market

Stock Market Closing: The three-day rally in the Indian stock market came to a halt today. After reaching a record high today, the Sensex and Nifty 50 closed with a decline due to increased profit booking. Investors' capital has increased by Rs 1.67 lakh crore today.

Today, the Sensex closed at 76490.08, down 203.28 points, after touching a high of 77079.04, fluctuating 699.31 points. The Nifty closed 30.95 points down at 23259.20. The Nifty reached a high of 23411.90 in intra-day. The BSE market cap was recorded at 425.08 lakh crore.

Markets in consolidation mode

In the last three trading sessions, the Sensex has registered a jump of more than 5000 points. So now the market has entered the consolidation phase. Experts have said that investors are focusing on booking their profits. Out of 4129 stocks traded on BSE today, 2631 improved and 1360 declined. 316 stocks reached the highest level of the year and 31 stocks reached the lowest level of the year.

IT index fell 2 percent

The Nifty IT index fell 2 percent as the Fed indicated that interest rates are likely to be cut any time after strong US employment data. In the Nifty50, Infosys, Tech Mahindra, TCS stocks performed poorly today. Market experts have given a resistance level of 23500-23870 for the Nifty. While 23160-23200 have defined the support level.

Smallcap and midcap improved

After reaching a record high today, at the end of the trading session, smallcap and midcap also closed with a gain of more than 1 percent. At the same time, selling pressure increased in metal, oil and gas stocks. The auto index also fell.

Top gainers and losers

Top gainers on Nifty 50 today were UltraTech Cement 3.26 per cent, Grasim 2.43 per cent, Hero Motocorp 2.30 per cent, Cipla 2.12 per cent and PowerGrid 2.09 per cent, while Tech Mahindra 2.66 per cent, Infosys 2.31 per cent, Wipro 1.88 per cent, Larsen & Toubro (L&T) was the top loser, closing at 1.59 per cent and Bajaj Finance 1.53 per cent lower.

Factors Investors Should Consider

-NDA Important 100 days of government

, Cabinet allocation and upcoming plans of the new government

, interest rate decisions by the Fed