Sensex, Nifty end off highs as bank, auto stocks drag

MUMBAI: Benchmark equity indices Nifty and Sensex ended off their intra-day highs on Thursday as selling pressure in banking and auto stocks capped gains.

However, investors also remained cautious ahead of further clarity on upcoming negotiations between the US and Iran.

At the closing bell, the Sensex was at 77,988.68, down by 122.56 points or 0.16 per cent. Nifty followed suit and closed at 24,196.75, down by 34.55 or 0.14 per cent.

Commenting on Nifty technical outlook, experts said that the near-term sentiment remains uncertain, as the index failed to decisively clear the 24,300 resistance level.

“However, if it moves above 24,300 with conviction in the next session, a sustained rally could unfold in the near term,” an analyst stated.

“Otherwise, a sharp bout of profit booking may emerge, potentially dragging the index towards 24,000," a market expert mentioned.