Sensex trades flat after touching new high

Led by strong buying support from foreign funds, a benchmark index of the Indian equities markets was trading flat Tuesday after it touched a new record high of 22,040.72 points.

The 30-scrip S&P Sensex (sensitive index) of the Bombay Stock Exchange (BSE) was trading flat - up 11.75 points or 0.05 percent around 2.19 p.m. - after it soared 144.47 points or 0.66 percent in pre-noon trade to a record intra-day high of 22,040.72 points.

This record high surpassed the previous mark of 22,023.98 hit on March 10.

The rally was led by oil and gas, fast moving consumer goods (FMCG) and metal stocks.

The S&P Sensex, which opened at 21,849.65 points, was trading at 21,821.55 points, up 11.75 points or 0.05 percent from the previous day's close at 21,809.80 points.

The Sensex touched a high of 22,040.72 points and a low of 21,785.38 points during the trade so far.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading flat after it made healthy gains in the pre-noon session.

The 50-scrip Nifty was also trading flat - down 3.40 points or 0.05 percent at 6,500.80 points.

According to market analysts, sustained FII (Foreign Institutional Investor) flows, and improving macroeconomic data led the markets to the new record high.

Sector-wise, the S&P BSE oil and gas index went was up 126.31 points, FMCG index gained 91.89 points and metal index which climbed 60.63 points.

However,S&P BSE Information technology (IT) index was down 60.68 points, capital goods index was lower by 58.54 points and automobile index fell by 20.81 points.