Sensex declines after hitting new all-time high in early trade; Nifty dips nearly 50 points

Mumbai: Benchmark indices declined in early trade on Thursday tracking weak trends from Asian markets and foreign fund outflows.

The 30-share BSE Sensex declined 149.41 points to 78,524.84 after hitting a new all-time high of 78,771.64 in early trade. The Nifty dipped 47.45 points to 23,821.35.

Among the 30 Sensex companies, Mahindra & Mahindra, Tech Mahindra, Larsen & Toubro, HCL Technologies, Maruti, Bharti Airtel, Tata Consultancy Services and Nestle were the biggest laggards.

UltraTech Cement, JSW Steel, Tata Steel and Reliance Industries were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

US markets ended in the positive territory on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,535.43 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude declined 0.21 per cent to $85.07 a barrel.

The BSE benchmark Sensex climbed 620.73 points or 0.80 per cent to settle at a new closing peak of 78,674.25 on Wednesday. During the day, it rallied 705.88 points or 0.90 per cent to hit a fresh all-time high of 78,759.40.

The Nifty went up by 147.50 points or 0.62 per cent to settle at a record closing peak of 23,868.80. Intra-day, it surged 168.6 points or 0.71 per cent to hit the fresh lifetime high of 23,889.90.