Sensex off new highs, inflation data awaited

Sensex off new highs, inflation data awaited

The BSE benchmark index Sensex on Tuesday receded from record high levels by losing 108 points to close at 21,826.42, with investors booking profit at higher levels snapping five days of straight gains.

The 30-share index in the early trade breached the 22,000-level briefly on firm Asian trends but fell back later and remained in the negative terrain before ending at 21,826.42, a fall of 108.41 points or 0.49 per cent.

The NSE 50-issue Nifty  declined 25.35 points to 6,511.90. It logged an all-time intra-day high of 6,562.85.

The Sensex had crossed the 22,000-mark for the first time on Monday on sustained capital inflows. It had zoomed by 988 points in past straight five sessions of gains. The buoyant mood was somehow disturbed by country's exports which contracted 3.67 per cent in February to $25.68 billion. 

But the takeaway for investors in February trade data was a marked improvement in the trade deficit on account of a big fall in gold imports.

"Markets are now keenly awaiting inflation, IIP and manufacturing data scheduled to be declared on Wednesday for taking cues for further directions” Jignesh Chaudhary, Head Of Research, Veracity Broking Services said. 

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