The BSE Sensex today fell from record levels and closed down by 42 points due to profit booking at higher levels mainly in banking and oil stocks, ending its six-day gaining spree.
In early trade the 30-share index touched new all-time high of 22,620.65 points, for the ninth day in a row. However, the index could not sustain the momentum and succumbed to profit booking later.
The barometer closed down by 42.42 points, or 0.19 per cent, to 22,509.07 points. It touched a low of 22,369.28 during the day.
The NSE Nifty eased by 16.45 points, or 0.24 per cent, to 6,736.10, after climbing to record high of 6,776.75. It touched a low of 6,696.90 in the day.
Brokers said the market was in over bought position following recent record setting spree and fell on profit selling in banking stocks following a slide in bonds.
They said the falling trend was partially checked as healthcare, FMCG and metal stocks gained on selective buying at the fag-end by retail investors.
The public sector undertaking sector inex suffered the most by losing 1.33 per cent to 6,362.30 followed by banking index by 1.09 per cent to 14,375.92. Oil and gas index lost 0.87 per cent to 9,641,86 and capital goods index by 0.83 per cent to 12,013.60.
(Reuters) - The benchmark BSE Sensex and broader NSE Nifty fell on Thursday after touching their ninth consecutive record high as state-run banks such as State Bank of India (SBI) slumped on concerns about losses on their debt portfolios as domestic bonds extended a slide this week.
*Check Updates: BSE Sensex
The benchmark 10-year bond yield rose to as high as 8.9952 percent, the highest level since Dec. 6 on concerns about tight cash conditions