Equity indices fall from new intra-day highs

Continuing with gains for the fifth consecutive session, the key indices of the domestic equity markets touched record intra-day high levels on Wednesday.

On an intra-day basis, the BSE Sensex touched a record high level of 33,956.31 points, surpassing its previous high of 33,865.95 points recorded on November 7.

Similarly, the NSE Nifty50 edged higher to a new intra-day level of 10,494.45 points, crossing its previous intra-day high of 10,490.45 points scaled on November 6.

However, the key indices gave up some gains to retreat from their record levels to trade on a flat-to-positive note during the mid-afternoon session.

According to market observers, a surge in auto, consumer durables and capital goods stocks, coupled with favourable global cues, kept investors' sentiments buoyed.

Around 1.10 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 14.60 points or 0.14 per cent at 10,477.80 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,928.59 points, traded at 33,886.48 points -- up 49.74 points or 0.15 per cent -- from its previous close.

The BSE market breadth was bullish as 1,652 stocks advanced as compared to 884 declines.

Hero MotoCorp, ONGC, Tata Motors, Larsen and Toubro and ICICI bank were the top gainers on the BSE.

On Tuesday, the benchmark equity indices closed at new highs as sentiments were given a boost by soaring automobile stocks, alongwith a strengthened rupee.

On a closing basis, the BSE Sensex scaled a new high of 33,836.74 points -- up 235.06 points or 0.70 per cent from its previous close, while the NSE Nifty50 edged higher by 74.45 points or 0.72 per cent to a new closing high 10,463.20 points.

--IANS

ppg/mr