At 14:23 IST, the barometer index, the S&P BSE Sensex, fell 125.52 points or 0.21% at 59,015.84. The Nifty 50 index was down 53.8 points or 0.31% at 17,575.85.
The Sensex hit record high of 59,737.32 while the Nifty hit an all-time high of 17,792.95 in morning trade.
The broader market tumbled. The S&P BSE Mid-Cap index declined 0.87% while the S&P BSE Small-Cap index fell 1.04%.
The market breadth was weak. On the BSE, 1105 shares rose and 2,144 shares fell. A total of 141 shares were unchanged.
Buzzing Index:
The Nifty Media index gained 0.92% to 1,926.35, snapping its two day losing streak. The media index witnessed bargain hunting after slipping 3.2% in two days.
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Zee Entertainment Enterprises (up 4.19%), DB Corp (up 4.18%), TV Today Network (up 0.45%) and Inox Leisure (up 0.44%) were top gainers in media space.
Stocks in Spotlight:
Brightcom Group hit an upper circuit of 5% at Rs 41.45 after the company said its board approved allotment of 1.50 crore convertible warrants at Rs 37.77 each on a preferential basis to Shankar Sharma. Sharma is vice chairman & joint managing director of First Global, an investment management firm.
The board also approved issuing 14,01,50,000 equity shares to 29 Sebi registered FPIs and other investors through a preferential allotment at Rs 37.77, aggregating to Rs 529.34 crore.
NCL Industries was down 0.66%. The company informed that CRISIL Ratings has upgraded its ratings on the bank facilities and fixed-deposits of the company. With regard to the company's bank facilities worth Rs 396 crore, the credit ratings agency upgraded the long-term rating to 'CRISIL A/ Stable' from 'CRISIL A-/Positive' and the short-term rating to 'CRISIL A1' from 'CRISIL A2+'. It has also upgraded the rating on the company's fixed deposits worth Rs 75 crore to 'FA+/Stable' from 'FA/Positive'.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 73.5325 from its previous closing of 73.52.
MCX Gold futures for 5 October 2021 settlement rose 0.11% to Rs 46,127.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.13% at 92.81.
In the commodities market, Brent crude for November 2021 settlement fell 44 cents or 0.58% to $75.23 a barrel.
The yield on 10-year benchmark federal paper rose to 6.173% from its previous close of 6.169%.
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