Sensex edges lower after hitting life high

Reuters Market Eye - The Nifty is down 0.37 percent and Sensex is down 0.31 percent. Earlier in the session, the Nifty gained 0.28 percent to touch a record high for the fourth straight session and hit the 7,800 mark for the first time.

The benchmark index rose 0.35 percent to hit a life high of 26,190.44 points for the second consecutive session.

Technology stocks led falls due to profit-taking after a sharp gain in the previous session. Wipro Ltd is down 1.6 percent, Tata Consultancy Services Ltd is down 0.82 percent.

Railway-related stocks fall on profit-taking ahead of the rail budget, due later in the day. Titagarh Wagons falls 4.4 percent while Texmaco Rail & Engineering is down 1.3 percent. BEML Ltd slumps 3.7 percent.

However, healthcare stocks are leading the gains with Sun Pharmaceutical Industries Ltd gaining 2.6 percent, adding to its 1.93 percent gain on Monday on defensive buying.

(Reporting by Indulal PM)