Markets edge down after hitting record highs

The BSE Sensex fell slightly on Thursday, retreating from record highs hit earlier in the session, as investors snapped a four-day rally by booking profits in recent outperformers such as Hindalco Industries. Trading was marred after exchange operator BSE Ltd, which operates the Sensex, suffered around a three-hour trading halt because of a network outage. Shares have surged this year - with the broader Nifty up 22.4 per cent so far - on hopes Narendra Modi's election as prime minister last month would spark a wave of economic reforms. A key test of that will come on July 10, when the new government is expected to unveil the budget. Foreign investors have remained strong buyers throughout, buying a net Rs 1,290 crore ($215.7 million) worth of shares on Wednesday and bringing their total for the year to $10.34 billion. The Sensex fell 0.07 per cent to end at 25,823.75 after hitting its record high of 25,999.08. It had gained 3.11 per cent over the previous three sessions. The Nifty fell 0.13 per cent to end at 7,714.80 after hitting its life high of 7,754.65. It had gained 3.1 per cent over the last four sessions. Recent outperformers fell on profit-booking. Hindalco Industries, which gained 10.8 per cent in the past three sessions, fell 2.52 per cent.