Winning Bizness Desk

Mumbai. On the first trading day of the week i.e. on June 10, the Sensex climbed 386 points to an all-time high of 77,079, besides Nifty also gained 121 points, reaching a record high of 23,411 points. However, after the day's trading, the market closed in a decline. The Sensex closed at 76,490 with a decline of 203 points. At the same time, the Nifty also closed at 23,259 with a decline of 30 points. Out of 30 Sensex stocks, 17 declined and 13 rose. The highest selling was seen in IT stocks. Chronox Lab Sciences stock was listed on the stock exchange at Rs 165, up 21.3%. Its issue price was Rs 136. However, after the day's trading, it closed at Rs 159.35, down by Rs 5.65 (3.42%). Cronox is a specialty chemical manufacturer.

Faith in new Govt

After the swearing-in of Narendra Modi, there is now more clarity about the central government. The Bharatiya Janata Party-led National Democratic Alliance (NDA) has formed the government. Therefore, the Sensex has reached a record high of 77,079. Inflation data for May is going to be released on June 12. Economists expect retail inflation to come down to 4.80% from 4.83% in April. Inflation being under control is a positive sign for the stock market. Reliance, Axis Bank, Power Grid, UltraTech Cement and NTPC are the top contributors in pushing the market up. Infosys, HDFC Bank, TCS, HCL Tech and Tech Mahindra are pulling the market down.

FIIs sold shares worth Rs 32,802 crore

So far this month, foreign institutional investors (FIIs) have sold shares worth Rs 32,802 crore. This is the highest selling in any month this year. After the Reserve Bank raised its GDP forecast, the Sensex reached an all-time high of 76,795 on the last trading day of the week, i.e., June 7. However, later it came down slightly and the Sensex closed at 76,693 with a gain of 1,618 points.