Profit booking erases early gains on BSE

Sensex, Nifty recede after touching new lifetime highs

Stocks across the board gained on sustained buying by funds amid a firm trend on other Asian bourses. File Photo

The Sensex and the Nifty on Tuesday formed new lifetime highs but trimmed initial gains to close almost flat on profit-taking in select bluechips.

After making a new lifetime high of 22040.72, the BSE Sensex closed up by 22.81 points at 21832.61. It breached the previous historic high of 22023.98 logged on March 10.

The broad-based CNX Nifty edged up by 12.45 points to settle at 6516.65. Like Sensex, it too formed a new lifetime high of 6574.95. Its previous peak was 6562.85 on March 11.

Rupee steady The rupee on Tuesday washed out initial gains and closed flat at 61.19 against the dollar on alternate bouts of buying and selling.

An early rally in domestic stocks amid increased capital inflows helped the rupee to resume higher at 61.02 from last Friday’s close of 61.19 at the international forex Exchange market. It later improved further a high of 60.88. However, it fell back on late selling in share markets and dropped to a low of 61.22, before concluding at last weekend’s close of 61.19. Dollar demand from importers also later weighed on the rupee, a forex dealer said