Sensex, Nifty touch record highs; exporters shunned for domestic plays

Reuters Market Eye - The BSE Sensex and Nifty were trading flat on Wednesday after earlier hitting record highs.

The benchmark BSE Sensex was up 0.11 percent at 11 a.m. after rising as much as 0.46 percent to a record high of 28,294.01.

The broader Nifty was trading percent 0.03 percent higher after gaining as much as 0.35 percent to an all-time high of 8,455.65.

Investors preference for domestically-focused companies to those in export-driven firms kept indexes flat.

Rising confidence in the domestic economy and rate-cut hopes helped shares.

Consumer goods stocks gained as falling inflation raise hopes of higher spending and margins.

ITC Ltd gained 1.27 pct, Hindustan Unilever Ltd was up 1.74 pct.

 

Infosys fell 0.74 pct, while Sun Pharmaceutical Industries declined 1.03 pct.

(Reporting by Abhishek Vishnoi)