Sensex retreats from record peak after falling 189 points, Nifty ends below 15,850

Mumbai: Equity benchmark Sensex reversed early gains to close 189 points lower on Monday, pressured by Reliance Industries and IT stocks, as investors gave a lukewarm response to the government's fresh stimulus measures for COVID-hit sectors.

A lacklustre trend in global equities further weighed on sentiment, though robust buying in pharma and metal counters capped the losses, traders said.

After touching a lifetime high of 53,126.73 in opening session, the 30-share BSE index ended 189.45 points or 0.36 per cent lower at 52,735.59.

Similarly, the broader NSE Nifty settled 45.65 points or 0.29 per cent down at 15,814.70. It touched an intra-day record of 15,915.65.

Titan was the top loser in the Sensex pack, shedding 1.56 per cent, followed by TCS, HCL Tech, Bajaj Finserv, Reliance Industries, UltraTech Cement and Bharti Airtel.

On the other hand, Dr Reddy's topped the gainers' chart with a leap of 1.75 per cent after the pharma major announced the commercial launch of its Covid treatment drug 2-DG. Tata Steel, Tech Mahindra, Sun Pharma, HUL and PowerGrid were among the other winners, climbing up to 1.64 per cent.

BSE energy, capital goods, teck, IT, telecom, power fell up to 0.80 per cent, while metal, healthcare and basic materials indices mustered solid gains. Broader BSE midcap and smallcap indices outperformed the benchmark, rising up to 0.46 per cent.

The rupee inched 1 paisa higher to settle at 74.19 against the US dollar.