Mumbai (PTI): The Sensex and Nifty ratcheted up to fresh lifetime highs on Wednesday but failed to hold on to the gains as investors took some money off the table amid concerns over frothy valuations.

IT, metal and auto counters bore the brunt of the selling pressure, while FMCG stocks saw brisk demand.

After touching a lifetime high of 57,918.71 during the session, the 30-share BSE Sensex pared all gains to end 214.18 points or 0.37 per cent lower at 57,338.21, breaking its four-session winning run.

Similarly, the broader NSE Nifty snapped its seven-day record-setting spree, settling 55.95 points or 0.33 per cent lower at 17,076.25. It touched an intra-day record of 17,225.75.

Auto stocks were subdued after companies posted muted sales numbers for August.

M&M was the top loser among the Sensex constituents, shedding 2.89 per cent, followed by Tata Steel, Bajaj Finserv, TCS, HDFC, Infosys and HCL Tech.

On the other hand, Asian Paints, Nestle India, Axis Bank, Dr Reddy’s, Titan and L&T were among the gainers, climbing up to 3.20 per cent.

Sectorally, BSE metal, IT, teck, basic materials and finance indices lost as much as 1.83 per cent, while realty, power, consumer durables, utilities and capital goods indices gained up to 5.46 per cent.

Broader BSE midcap and smallcap indices rose up to 0.92 per cent.

Global equities shrugged off weak PMI data and rising Delta variant cases in multiple countries.

In Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note. Equities in Europe were also trading with gains in the afternoon session.

International oil benchmark Brent crude rose 0.31 per cent to USD 71.85 per barrel.


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