Sensex retreats after hitting new high at 26,190.81

After hitting an all-time high of 26,190.81, the benchmark BSE Sensex retreated by falling over 69 points in mid-session trade today as funds and cautious investors locked in gains in recent outperformers.
The BSE 30-share Sensex after hitting a new record high of 26,190.81 in mid-session trade, surpassing previous peak of 26,190.44 reached on July 8, soon retreated to 26,077.70, showing a fall of 69.63 points, or 0.26 per cent.
Similarly, the broad-based National Stock Exchange index Nifty lost 24.10 points, or 0.30 per cent, to 7,771.65.
Shares of Cairn India tanked 6.15 per cent after the company reported a 65 per cent drop in net profit for the June quarter.

Wipro in two-way movement, was trading 0.04 per cent higher ahead of quarterly earnings later in the day.
Among BSE-30 shares, Reliance Industries, ONGC, Axis Bank, Bajaj Auto, Bharti Airtel, Cipla, Dr Reddy, GAIL, Hero MotoCorp, Infosys, TCS, ICICI Bank, Tata Motors and Larsen and Toubro were major losers and dragged the Sensex down from record highs.
Globally Hong Kong's Hang Seng index was up 0.54 percent, while Japan's Nikkei shed 0.29 per cent.