Equity benchmarks eased from record highs on Thursday as investors booked profits, pulling the indices back from their intraday peaks. The Nifty hit a new lifetime high of 26,310.45, surpassing its previous September 27, 2024 record, while the Sensex briefly crossed 86,000 for the first time, touching 86,055.86. By the afternoon, sentiment weakened, dragging the Sensex down to 85,491.23 and the Nifty to 26,144.75.
Eicher Motors, ETERNAL and ONGC were among the top Nifty laggards, losing up to 3 percent, whereas Bajaj Finance and Hindustan Unilever gained around 3 percent. Market breadth was nearly even with 1,820 stocks rising, 1,836 falling and 170 unchanged.
Gains were trimmed due to profit-taking at higher levels, monthly derivatives expiry–linked volatility and weakness in midcap and smallcap stocks after a two-day rebound. Analysts noted that many smaller stocks remain in a fragile phase and said the next rally will rely on stronger earnings, stable global cues and steady domestic flows.
Meanwhile, the rupee slipped 2 paise to 89.24 amid importer dollar demand despite supportive fund inflows and softer crude prices.
