Sensex trims gains as telecom, banking stocks falls

Sensex crosses 33k-mark, Nifty ends a fresh life high; PSB, infra stocks zoom

Benchmark indices made record high levels at the opening bell, led by strong positive momentum seen on daily charts and better-than-expected rollovers to November futures and options series contracts.

A healthy inflow of foreign funds and a strengthening of the rupee's position against the USA dollar kept the market trajectory northwards throughout the session.

Besides new intra-day highs, the S&P BSE Sensex which opened at 32,995.28 points, closed at a new high of 33,042.50 points, up 435.16 points or 1.33 per cent from its previous day's close at 32,607.34 points.

However, the broader NSE Nifty slipped from its lifetime high to close at 10,323.05, down 20.75 points, or 0.20 per cent. Meanwhile, the Nifty was trading lower by 21.20 points or 0.21% at 10,274.15 with 28 components falling.

The Sensex had touched an intra-day low of 33,164.42 points-mark.

Pak wants good relations with United States based on mutual respect: FM
USA officials have long accused Pakistan of turning a blind eye or assisting the Afghan Taliban and the allied Haqqani network. Pakistan only received "a trickle" of economic assistance from the United States , said the foreign minister.

However, selling in telecom, energy, finance, banking, Teck and oil&gas stocks pulled back the index from record highs.

Among the laggards, the S&P BSE Bankex Index fell 0.8 percent after rallying in the past two sessions.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 375.63 crore yesterday, as per provisional data released by the stock exchanges.

Major gainers were, Adaniports 4.59 pct, Kotak Bank 2.05 pct, SunPharma 1.80 pct, TataMtrDvr 1.78 pct, ITC 1.68, Bajaj Auto 1.54 pct, Maruti 1.50 pct and HeroMotoCo 1.35 pct.

On the currency front, the rupee strengthened by 16 paise to close at 64.89-90 against the U.S. dollar from its previous close at 65.06.

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