Benchmark indices closed marginally lower on Tuesday after two days of gains, led by profit booking in Reliance Industries, IT and auto stocks amid weak global cues.
In afternoon trade, Sensex logged fresh all-time high led by gains in banking and capital goods stocks. The 30-stock index rose 249 points to a record high of 53,129. Nifty touched intra day high of 15,914, a point short of the all-time high of 15,915.
However, benchmark indices pared gains toward the end of trade amid profit-booking in market heavyweights.
Sensex ended at 52,861, down 18.82 points or 0.04 per cent. Nifty fell 16.10 points or 0.1 per cent to 15,818.
Tech Mahindra was the top Sensex loser falling 2.30 per cent, followed by TCS, Maruti, Reliance Industries, Sun Pharma, Infosys and M&M.
UltraTech Cement, HDFC Bank, Bajaj Finance, Bajaj Finserv, Kotak Bank and IndusInd Bank were among the top Sensex gainers, rising up to 3.22 per cent.
On Sensex pack, 11 shares rose against 19 closing in the red.
"Indian market was led by financial stocks. Business updates of major banks and NBFCs for the quarter of June which showed improvement in business activity, minimising concerns over second wave impact.
"But profit-booking breached the overall market by the end of the day. Globally, oil prices surged after OPEC called off talks to boost production despite rising global demand," said Vinod Nair, Head of Research at Geojit Financial Services.
BSE midcap and small cap indices ended 42 points higher and 65 points lower, respectively.
Banking stocks were the top gainers with BSE bankex rising 383 points to 40,281.
Auto and IT stocks were the top losers on sectoral basis with BSE auto and BSE IT indices falling 444 points and 366 points, respectively.
Market breadth was negative with 1,553 shares falling against 1703 stocks rising on BSE. 130 shares were unchanged.
Market cap of BSE-listed firms stood at Rs 231.34 lakh crore.
Global shares were trading mostly lower on Tuesday as oil prices surged after a meeting of oil producing nations was postponed, with little else guiding trading after the US Independence Day holiday.
France's CAC 40 dropped 0.5% in early trading to 6,534.23, while Germany's DAX lost 0.6% to 15,561.04. Britain's FTSE 100 edged down 0.2% to 7,153.81. The future for the Dow industrials inching less than 0.1% lower to 34,663.00. The S&P 500 future lost 0.1% to 4,339.88.
In Asian trading, Japan's benchmark Nikkei 225 edged up 0.2% to 28,643.21. South Korea's Kospi added 0.4% to 3,305.21. Australia's S&P/ASX 200 fell 0.7% to 7,261.80. Hong Kong's Hang Seng lost 0.3% to 28,072.86, while the Shanghai Composite slipped 0.1% to 3,530.26.
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