Benchmarks fall from record highs as investors pocket gains

Mumbai: The BSE Sensex scaled the 56,000-mark for the first time on Wednesday but finished in the red following a late sell-off as investors pocketed gains in banking, finance and IT stocks.

Snapping its four-session record-setting spree, the the 30-share benchmark closed 162.78 points or 0.29 per cent lower at 55,629.49. It touched its all-time peak of 56,118.57 during the session.

Similarly, breaking its seven-day winning streak, the broader NSE Nifty declined 45.75 points or 0.28 per cent to 16,568.85. It touched a record intra-day peak of 16,701.85. Kotak Bank was the top loser in the Sensex pack, shedding 2.09 per cent, followed by ICICI Bank, PowerGrid, IndusInd Bank, HDFC, Axis Bank and Maruti.

On the other hand, UltraTech Cement, Bajaj Finance, Bajaj Finserv, Nestle India and Bajaj Auto were among the gainers, advancing up to 2.46 per cent.

The market breadth was negative, with 20 out of the 30 Sensex stocks closing lower.

Heavyweight HDFC Bank witnessed brisk rebound after RBI allowed the bank to issue fresh credit cards, but closed modestly lower due to profit-booking.

In addition to financials, metals, auto and realty stocks also remained under pressure, he noted. Sectorally, BSE bankex, metal, finance, IT and industrials indices fell up to 0.96 per cent, while energy, FMCG, oil and gas and power notched up gains. Broader BSE midcap index rose 0.26 per cent, while the smallcap gauge slipped 0.18 per cent.

Meanwhile, international oil benchmark Brent crude rose 0.90 per cent to USD 69.65 per barrel. Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 343.73 crore, according to exchange data.