Markets reverse gains after hitting fresh highs ahead of GDP data

The breadth, indicating the overall health of the market, was positive

The benchmark indices hit their record highs in the afternoon trade ahead of the gross domestic product data for the March quarter due later in the day.

The GDP growth is expected to come in at 7.1% for the January-March quarter, which would allow the country to hang on to its status as the world's fastest growing major economy, according to economists polled by Reuters.

At 3:03 pm, the S&P BSE Sensex was trading at 31,170, up 11 points, while the broader Nifty50 was ruling at 9,624, up 0.4 points. 

In intraday trade, the 30-share Sensex rose 96 points