Indian equity indices ended in the red on Friday as profit booking was seen at a higher level.
During intraday, Sensex and Nifty touched a new all-time high of 85,978 and 26,277 respectively.
At closing, Sensex was down 264 points or 0.31 per cent at 85,571, and Nifty was down 37 points or 0.14 per cent at 26,178.
Banking stocks led the market down, with Nifty Bank shedding 541 points or one per cent to 53,834.
From the Sensex pack, top gainers included: Sun Pharma (NS:SUN), Reliance (NS:RELI), Titan (NS:TITN), HCL Tech (NS:HCLT), Bajaj Finserv (NS:BJFS), Asian Paints (NS:ASPN), NTPC (NS:NTPC), IndusInd Bank (NS:INBK), Tata Steel (NS:TISC), Maruti Suzuki (NS:MRTI), Infosys (NS:INFY), TCS (NS:TCS), SBI (NS:SBI), M&M (NS:MAHM) and ITC. Losers, meanwhile were in the form of PGRD, which accounts for Power Grid; ICBK, that accounts for ICICI Bank; BRTI or Bharti Airtel; HDBK, HDFC Bank; KTKM, Kotak Mahindra Bank; L&T; ULTC, UltraTech Cement; HUL, Hindustan Unilever; JSTL, for JSW Steel; and AXBK, Axis Bank.
Mid and smallcap stocks were not left behind either. The Nifty Midcap 100 index declined by 88 points or 0.15 per cent to 60,381. The Nifty Smallcap 100 stood at 19,242, down 19 points or 0.10 per cent.
Sectoral indices that gained were Auto, IT, PSU Bank, pharma, metal, and energy. Fin Service, FMCG, realty, media, and private bank were the major laggards.
Rupak De, Senior Technical Analyst, LKP Securities said "Nifty has taken a break as it was continuously rising for the last two days. The strength remains on while the index continues to stay on top of important moving averages. It's going to continue as long as it holds above 25,900.
"On the higher end, a fresh round of rally may start above 26,300. If Nifty moves above 26,300, it can move towards 26,600," De added.
Another noted expert said, "Metals stocks saw a major rebound, and Pharma and IT saw an uptick due to INR weakness. Meanwhile, investors are awaiting Q2 earnings to see whether it can see an improvement in the earnings outlook."
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