New Delhi: The S&P BSE Sensex which surged as much as 130 points in opening trade on Tuesday pared most of its gains.
On Tuesday, the Sensex jumped 130 points to hit its fresh lifetime high of 25,711.11, while Nifty also managed to gain as much as 28 points to hit its fresh lifetime high of 7,683.20.
However, following profit booking in banks, realty, power and oil & gas stocks, the markets turned choppy.
At 10:58 am, the Sensex was trading 0.56 per cent low, or 143 points down, at 25,436.95. It hit a low of 25,489.40 and a high of 25,711.11 in trade today.
The 50-share Nifty index was trading 0.68 per cent lower, or 52.10 points lower, at 7,602.50. It hit a low of 7620.40 and a high of 7683.20 in trade today.
Stock brokers said sustained buying by foreign funds and other participants, after Narendra Modi-led government promised investor-friendly reforms and measures to revive country's economic growth, helped the key indices — Sensex and Nifty — to continue their record-breaking spree.
Further, a mixed trend in other Asian markets and overnight gains on US bourses on the back of economic optimism influenced the trading sentiments here, they said.
Among other Asian markets, Japan's Nikkei shed 0.44 per cent, while Hong Kong's Hang Seng was up 0.31 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.11 per cent higher in Monday's trade.