Nifty retreats from record highs on profit taking

Reuters Market Eye - The Nifty is 0.4 percent lower on profit taking after a record high hit on Monday.

The broader index gained as much as 1.15 percent to a new high of 8,180.20, on Monday while the Sensex rose 1.21 percent to an all-time high of 27,354.99, surpassing their previous records hit on Wednesday.

Metal stocks leading the fall ahead of the Supreme Court's hearing on "illegal" coal block allocations.

Heavyweight outperformers witness profit-taking. Oil and Natural Gas Corp is trading 1.2 percent lower after gaining 2.6 percent in the previous session.

Markets in the region were steady with MSCI's broadest index of Asia-Pacific shares outside Japan down a slight 0.08 percent.

 

(Reporting by Indulal PM)