Sensex, Nifty pare gains on bouts of profit-booking

TIL Desk/Business/Mumbai/ The BSE Sensex pared its early record highs, though trading 84.11 points higher in late morning deals amid buying IT, Teck and Energy sectors ahead of Infosys’ June quarter earnings scheduled later in the day.

Earlier, the index hit a fresh record high of 36,740.07 on buying spree by domestic funds. The 30-share index was trading higher at 36,632.52, showing a gain of 84.11 points, or 0.23 per cent at 1320 Hrs. However, the broader Nifty-50 index trading lower at 11,017.55, a marginal loss of 5.65 points, or 0.05 percent.

Caution crept as profit-booking was witnessed in most sectors as investors reacted to key macro data release which came post market hours yesterday. The Consumer Price Index (CPI) inflation rose to a five-month high of five per cent in June, while the Index of Industrial Production (IIP) slowed to a seven-month low of 3.2 per cent in May. Telecom, realty, power, consumer durables, capital goods, industrials, basic materials, industrials, FMCG, banks and financials saw profit-booking.