Sensex, Nifty open on tepid note; Yes Bank rallies 5 pc

Mumbai: Market benchmark BSE Sensex retreated from its record peak in early trade on Tuesday as investors booked profits amid positive cues from global equities.

After rising over 165 points in the opening session, the 30-share index pared all gains to trade 41.28 points, or 0.10 per cent, lower at 40,260.68. Similarly, the broader NSE Nifty slipped 13.60 points, or 0.11 per cent, to 11,927.70.

Top losers in the Sensex pack included Sun Pharma, TCS, Kotak Bank, Infosys, Tata Steel and HUL, shedding up to 1 per cent. On the other hand, Yes Bank was the biggest gainer, rallying over 5 pc, followed by Hero MotoCorp, Tata Motors, SBI, Bajaj Finance and Bajaj Auto, that rose up to 2 per cent.

In the previous session, the 30-share Sensex rose 136.93 points, or 0.34 per cent, to end at an all-time high of 40,301.96. The seven-session winning run is also the best since mid-March for the Sensex. The index also hit its record intra-day high of 40,483.21. The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.

Foreign institutional investors (FIIs) offloaded shares worth Rs 138.53 crore in the capital market on Tuesday, while domestic institutional investors sold equities worth Rs 500.24 crore, data available with the stock exchange showed.

According to traders, benchmark indices were trading flat as investors began booking profits at higher levels. Globally, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading higher on optimism over the US-China trade deal.

Shares on Wall Street too ended higher on Monday. On the currency front, the rupee appreciated 4 paise against the US dollar to trade at 70.73 in early session. Brent futures, the global oil benchmark, rose 0.05 per cent to USD 62.16 per barrel.