Sensex falls 265 pts

Snaps five-day winning streak on Tuesday

The BSE Sensex snapped a five-day winning streak on Tuesday, retreating from a record high hit in the previous session, led by falls in defensives such as ITC and on profit-taking in recent outperformers such as Dr Reddy's Laboratories. The benchmark index closed down 264.57 points, or 1.25 per cent, at 20,974.79, retreating from a record high of 21,321.53 in a special trading session on Sunday. Markets were closed on Monday for a local holiday. The broader Nifty closed down 64.20 points, or 1.02 per cent, at 6,253.15.