Both benchmarks Sensex and Nifty today gave up their life highs hit earlier in the day after participants moved in to take profit off the table. The Sensex slipped under the crucial 32,000-mark by losing 40 points while the Nifty cracked below 9,900 after hitting the threshold for the first time ever. There was heavy selling at the TCS counter, which yesterday reported a 5.9 per cent decline in consolidated net profit at Rs 5,945 crore. Infosys released positive June quarter results today. The key indices ran into profit booking after four sessions of back-to-back rally. Realty, IT, industrials and financials cracked. The 30-share benchmark dropped 40.04 points, or 0.12 per cent, to 31,997.34 at 1200 hours. The 50-share NSE Nifty stood at 9,868.75 at 1200 hours, down 22.95 points, or 0.23 per cent. Major losers were TCS and Coal India, falling by up to 1.88 per cent. Most Asian stocks were trading higher in anticipation of US inflation data and earnings from some large banks. In the US, the Dow yesterday closed at a record on gains in the financial sector. Foreign portfolio investors (FPIs) sold shares worth a net Rs 59.15 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 279.13 crore.
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