Market benchmark BSE Sensex retreated from record levels to end almost flat at 37,665.80 points on Tuesday due to profit booking in banking and energy stocks after a recent rally.
The broader NSE Nifty, however, extended its record run for a third straight session and closed at a fresh record high of 11,389.45, showing marginal gain of 2.35 points or 0.02 per cent. Intra-day, it hit a new high of 11,428.95 and a low of 11,359.70.
Stock markets were volatile today even as global markets posted gains on encouraging corporate results and gains in oil stocks. The Sensex opened higher and rallied to a fresh life-time high of 37,876.87 in early trade. However, it succumbed to profit booking, before finally ending at 37,665.80 points, down by 26.09 points, or 0.07 per cent.
The Sensex swung about 300 points on alternate bouts of buying and selling during the volatile session. Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Vinod Nair, Head of Research, Geojit Financial Services ltd said, “Market was range bound after touching a new high. Global cues were positive despite concerns of trade tensions. Back home, PSU banks slid on account of profit booking after two consecutive days of rally.