The Indian equity benchmarks came off record highs hit earlier in the session as banking, financial services and capital goods shares came under selling pressure. However, buying in information technology shares capped the downside for the benchmarks. Earlier in the session, Sensex rose as much as 341 points to hit record high of 52,641.53 and Nifty 50 index touched an all-time high of 15,835.55. Reliance Industries, Infosys, Tata Consultancy Services and HDFC twins were among the top movers in the Sensex.
As of 12:18 pm, the Sensex was up 133 points at 52,434 and Nifty 50 index rose 13 points to 15,751.
Seven of 11 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty PSU Bank index’s nearly 1 per cent decline. Nifty Bank, Financial Services, Media, Private Bank and Realty indices also declined 0.5-0.8 per cent.
On the other hand, Nifty IT index rose 1.65 per cent.
Mid-cap shares succumbed to selling pressure on account of profit booking wherein the Nifty Midcap 100 index fell 0.05 -per cent while Nifty Smallcap 100 index advanced 0.4 per cent.
Coal India was top Nifty gainer, the stock rose over 3 per cent to hit fresh 52-week high of Rs 165. Tata Consultancy Services, HCL Technologies, Infosys, Reliance Industries, Power grid, Bajaj Finance, Tech Mahindra, Dr Reddy’s Labs, Tata Motors, Tata Consumer Products, Eicher Motors, Wipro and HDFC Bank were also among the gainers.
On the flipside, Adani Ports, State Bank of India, SBI Life, ICICI Bank, HDFC Life, IndusInd Bank, Grasim Industries, UPL and Axis Bank were among the losers.
The overall market breadth was neutral as 1,568 shares were trading higher while 1,476 were declining on the BSE.