Emergence of profit-booking on Tuesday snapped a two-session upmove as benchmark Sensex, after logging lifetime high of 28,282.85, dipped by nearly 15 points to end at 28,163.29 as investors were seen taking a breather after the record-breaking run.
Fall in key counters including HDFC, TCS, Infosys, Sun Pharma, ONGC, Tata Motors, Hindalco and HUL mainly weighed on the market sentiment. However, HDFC Bank, L&T, Sesa Sterlite, Bharti Airtel, Tata Steel and BHEL cushioned the fall.
The 30-share BSE Sensex resumed better and touched new intra-trade peak of 28,282.85 but fell back to end at 28,163.29, a fall of 14.59 points or 0.05%. In last two sessions, Sensex had risen by 237.24 points or 0.85% and closed at back-to-back new peaks.
"Profit booking at current levels and mixed expectations about probable curbs on gold import kept the stocks markets volatile throughout the day," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio. The broad-based 50-issue CNX Nifty of the NSE also eased by 4.85 points, or 0.06%, to end at 8,425.90.
Intra-day, it registered all time intra-day high of 8,454.50. While sustained inflows continue to drive investor sentiment as FPIs/FIIs bought shares worth Rs 656.37 crore on Monday, traders said there is sense of fatigue setting in.
"Lack of cues from the domestic and global front kept the participants on the sidelines and triggered profit taking in selective pivots," said Jayant Manglik, President-retail distribution, Religare Securities.
Asian markets closed mixed on Tuesday. Key benchmark indices in China, Hong Kong and Taiwan closed lower while from Japan, Singapore and South Korea finished higher.
However, European stocks were trading better in late morning deals. The CAC was up by 0.41%, the DAX by 0.74% and the FTSE by 0.34%.
Jignesh Chaudhary, Head of Research, Veracity Broking Services said: "Today not much action was seen in the local equity market. Indices traded in a small range though they managed to post new all time high in the morning. As the day progressed, profit booking was seen." Sixteen scrips out of the 30-share Sensex pack finished higher while 14 others ended lower.
Major losers include Sun Pharma (1.94%), HDFC (1.90%), Hindalco (1.16%), ONGC (1.49%), TCS (1.18%), Cipla (0.77%), Infoys (0.76%), and Bajaj Auto (0.70%).
However, Sesa Sterlite rose by 4.09%, followed by BHEL 2.01%, L&T 1.79%, Bharti Airtel 1.57%, Tata Steel 1.42% and HDFC Bank 1.40%.
Among the S&P BSE sectoral indices, Capital Goods rose by 1.61%, followed by Power 1.33% and Metal 1.33%.
The total market breadth remained positive as 1,743 stocks finished in green, 1,366 stocks closed in red while 97 ruled steady. Total turnover rose to Rs 3,657.51 crore from Rs 3,398.97 crore on Monday.