Sensex, Nifty settle flat after hitting fresh lifetime high levels in early trade

Sensex and Nifty hit fresh lifetime high levels before closing flat due to profit-taking in select banking and telecom shares amid concerns over rich valuations

Equity benchmark indices Sensex and Nifty hit fresh lifetime high levels before closing flat due to profit-taking in select banking and telecom shares amid concerns over rich valuations on Tuesday.

The 30-share BSE Sensex declined 34.74 points or 0.04% to settle at 79,441.45 in a volatile trade. During the day, it jumped 379.68 points or 0.47% to hit a record peak of 79,855.87.

The Nifty declined by 18.10 points or 0.07% to 24,123.85. Intra-day, it climbed 94.4 points or 0.39% to hit a lifetime high of 24,236.35.

Among the Sensex pack, Kotak Mahindra Bank, Bharti Airtel, IndusInd Bank, Tata Motors, ICICI Bank, Bajaj Finance, State Bank of India and Titan were the biggest laggards.

Larsen & Toubro, Infosys, HDFC Bank, Tata Consultancy Services, HCL Technologies and Tata Steel were the biggest gainers.

On Monday, the BSE benchmark settled higher by 443.46 points or 0.56% at an all-time peak of 79,476.19. The Nifty climbed 131.35 points or 0.55% to settle at a fresh lifetime high of 24,141.95.

In Asian markets, Tokyo, Shanghai and Hong Kong settled in the positive territory on Tuesday, while Seoul ended lower.