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Markets retreat from record highs; Sensex falls
The Business Guardian
|June 20, 2023
Equity benchmarks Sensex and Nifty pared early gains to close lower on Monday as investors offloaded telecom, power and utility stocks amid a bearish trend in global markets and profit booking.
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Besides, intense selling in Reliance Industries, ICICI Bank and Kotak Bank counters also hit investor sentiments, traders said.
After hitting its lifetime high on Friday, the 30-share BSE index fell 216.28 points or 0.34 per cent to settle at 63,168.30. During the day, it declined 336.75 points or 0.53 per cent to 63,047.83.
The NSE Nifty went lower by 70.55 points or 0.37 per cent to end at 18,755.45. The index registered its lifetime peak of 18,826 on Friday.
There was accelerated selling, particularly in the afternoon trade, dragging the key indices from record highs.
This story is from the June 20, 2023 edition of The Business Guardian.
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