MUMBAI, Nov 18 (Reuters): The BSE Sensex and the Nifty ended little changed on Tuesday, retreating from record highs hit earlier in the session, as investors booked profits even as rising confidence in the domestic economy and rate-cut hopes boosted firms such as Larsen & Toubro.
Investors preferred shares of domestically-focused companies to those in export-driven firms such as Infosys Ltd.
They hope Prime Minister Narendra Modi will unveil a slew of reforms including goods and services tax and changes in land acquisition laws.
Meanwhile, the Reserve Bank of India (RBI) is expected to cut interest rates as early as in February, helping spur economic growth.
Underlying sentiment also remained robust on continued foreign buying. Overseas investors bought shares worth 6.56 billion rupees ($106.28 million) on Monday, bringing their total purchase in stocks to $15.35 billion so far in 2014.
"Indexes are consolidating. Defensives are being de-selected in the portfolio while old economy stocks are gaining on rate-cut hopes," said Deven Choksey, managing director at KR Choksey Securities.
The BSE Sensex rose as much as 0.37 per cent to an all-time high of 28,282.85 before ending down 0.05 per cent.
The Nifty closed 0.06 per cent lower after hitting a record high of 8,454.50.
Domestic economy-driven shares led gains. L&T advanced 1.8 per cent, while HDFC Bank rose 1.4 per cent.
Sensex, Nifty end little changed
FE Team | Published: November 19, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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