Sensex hits new high, Nifty retreats from record level

The benchmark BSE Sensex today edged up to a new closing record at 32,383.30, but the Nifty was little changed with a negative bias.

The Sensex closed marginally higher by 0.84 point at 32,383.30. During the day, the barometer rallied over 290 points to touch fresh high of 32,672.66 following buying spree in financials, banks, realty, auto, IT, FMCG and oil and gas stocks.

The 50-share Nifty of NSE scaled all-time high of 10,114.85 in day trade, but closed flat at 10,020.55 as 33 index constituents ended with losses.

Markets pared gains due to late sell-off on expiry of July series derivatives contracts and profit-booking at record levels amid disappointing earnings by some blue-chip companies, brokers said.

Dr Reddy's that reported over 57 per cent drop in net profit fell over 3 per cent and was the biggest loser among index scrips.

RIL, ITC, Infosys, TCS and Bharti Airtel fell up to 2.76 per cent. However, strong gains in banking stocks like HDFC Bank, Kotak Bank, SBI and HDFC helped the index limit losses.