Markets retreat from record high levels; trade lower on weak global trends

New Delhi: Equity benchmark indices declined after hitting their fresh record high levels in early trade on Wednesday amid weak global market trends.

The 30-share BSE Sensex climbed 129.72 points to hit a new all-time high of 80,481.36 during the opening trade. But, soon the benchmark retreated and declined 207.47 points to 80,144.17.

PSU Watch is now on Whatsapp Channels. Click here to join

The NSE Nifty also hit its fresh lifetime high of 24,461.05 in opening deals but pared all the gains and dipped 49.6 points to 24,383.60.

Among the Sensex pack, Mahindra & Mahindra, JSW Steel, Kotak Mahindra Bank, Axis Bank, State Bank of India and ICICI Bank were the biggest laggards.

Maruti, Adani Ports, NTPC and Bharti Airtel were among the winners.

Foreign Institutional Investors (FIIs) bought equities worth Rs 314.46 crore on Tuesday, according to exchange data.

The NSE Nifty went up by 112.65 points or 0.46 percent to 24,433.20 -- its record closing high.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)