Indian shares dip, after rising to record high


Mumbai : Indian shares closed 0.24 percent down, dragged by bank, telecom and cement stocks, after the key Sensex index hit a record high of 15,114.95 during early trade Tuesday.

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The benchmark sensitive index of the Bombay Stock Exchange (BSE) lost 35.85 points or 0.24 percent to close at 15,009.88 levels, after hitting a lifetime high of 15,114.95.

The broader 50-share National Stock Exchange (NSE) index, Nifty, too lost 13.35 points or 0.03 percent to close at 4,406.05 levels, coming off an all-time high of 4,434.45 in early trade.

Private sector telecom service provider Reliance Communications led the losers and was down 1.76 percent at Rs.542.65. It was followed by second largest private sector lender HDFC Bank, which was down 1.73 percent at Rs.1,147.85, and top hospitality and tobacco firm ITC, down 1.48 percent at Rs.153.45.

Textile major Grasim Industries, top cement producer Gujarat Ambuja Cements, state-run State Bank of India, telecom service provider Bharti Airtel, construction and engineering firm Larsen & Toubro, thermal energy producer NTPC and cement major ACC were the major index stocks that traded in the red.

Automobile and technology stocks fared better with multi-utility vehicle maker Tata Motors leading the Sensex gainers, up 4.03 percent at Rs.744.55.

Next was top carmaker Maruti Udyog, up 2.38 percent at Rs.813.00, gaining Rs.18.90 over its last trade, and fast moving consumer goods maker Hindustan Unilever, up 1.16 percent at Rs.198.50.

The third largest software exporter Infosys Technologies, top steel maker Tata Steel, multi-utility vehicle maker Mahindra & Mahindra, fourth largest software exporter Satyam Computers, top two-wheeler and three-wheeler maker Bajaj Auto top software exporter Tata Consultancy Services and drug major Dr. Reddy's Laboratories were the other major gainers.