Sensex touches new high of 32642 but loses 260 pts to end flat

RSTV Bureau
File photo of an Indian stock broker in Mumbai.

File photo of an Indian stock broker in Mumbai.

Sensex touched record high levels on Thursday when it rallied to 32,642.91 following buying spree in financials, banks, realty, auto, IT, FMCG and oil and gas stocks. But by the end of the trading day, the index lost most of its gains to close flat at 32,383.30 because of selling in IT, pharma, oil and gas and technology stocks.

Late selling in blue-chips like Reliance Industries, ITC, Infosys, TCS and Bharti Airtel dragged down the index from the record level to close flat.

The 50-share Nifty also scaled to an all-time high of 10,114.85 during the day, but closed flat at 10,020.55 after 33 stocks ended with losses.

Dr Reddy’s that reported over 57 per cent drop in net profit fell over 3 per cent and was the biggest loser among index scrips.

RIL, ITC, Infosys, TCS and Bharti Airtel fell up to 2.76 per cent.

However, strong gains in banking stocks like HDFC Bank, Kotak Bank, SBI and HDFC helped the index limit losses.

(With inputs from PTI)