Sensex off record highs in range-bound trade

TIL Desk/Business/Mumbai/ The benchmark Sensex today retreated from its record high by ending lower by 9 points in a range- bound session but recorded gains for the week on GST boost and monsoon progress.

The 30-share BSE index, which had closed at a record high of 31,369.34 yesterday, traded in the negative terrain for the better part of the session and hit a low of 31,286.62 before settling at 31,360.63, down 8.71 points, or 0.03 per cent.

Likewise, the 50-scrip NSE Nifty fell by 8.75 points, or 0.09 per cent, to close at 9,665.80 after shuttling between 9,684.25 and 9,642.65. On a weekly basis, the Sensex registered a rise of 439.02 points, or 1.41 per cent; while the Nifty gathered 144.90 points, or 1.52 per cent, during the week.

The Sensex had gained 159.55 points in the previous two sessions and hit record closing high yesterday. The market sentiment took a short-term reversal as investors preferred to keep their positions at a low ebb in view of quarterly earnings, which are due next week onwards.

Stocks of heavyweight RIL soared 3.43 per cent to trade at over nine-year high of Rs 1,490.80. Lupin Ltd too rallied 3.28 per cent to Rs 1,116.75. In the Sensex kitty, 20 scrips ended lower while 11 closed higher.