MUMBAI: The benchmark BSE Sensex retreated from record high level to trade higher by 74 points in late morning trade on bouts of buying in key frontline shares of energy, telecom, consumer durables and metal sectors amid higher Asian cues.
Earlier, the Sensex hit a fresh record high of 34,487.52 while NSE Nifty touched life-time high of 10,659.15 on smart gains in Coal India, Tata Motors, ITC and Reliance.
Coal India touched a day's high of Rs 310 before trading at Rs 304.40, up by 5.75 per cent, after it raised prices of non-coking fuel.
The scrip attracted a lot of investors as over 11 lakh shares were traded on BSE while the trading volume on NSE was over 2 crore in morning session.
Caution crept ahead of earning results of index heavyweights.
Profit-booking was seen in IT and Teck sectors. Wipro and TCS fell up to 1 per cent while Bajaj Auto, Hero MotoCorp and Maruti dropped up to 0.80 per cent in morning trade.
The 30-share Sensex was trading higher by 74.68, or 0.22 per cent, at 34,427.47 at 1100hrs.
The broader Nifty of the NSE was trading marginally higher by 7.50 points, or 0.07 per cent at 10,631.10.
Major gainers were Coal India 6.22 per cent, Tatamtrdvr 1.81 per cent, ITC 1.75 per cent, Tata Motors 1.49 per cent and Yes Bank 1.47 per cent.
Foreign portfolio investors (FPIs) net bought shares worth Rs 692.83 crore while domestic institutional investors (DIIs) sold equities to the tune of Rs 206.30 crore, provisional data showed.
Asian markets were trading higher as investors in the region digested earnings guidance from tech heavyweight Samsung Electronics and kept an eye on ongoing inter-Korea talks.
-- Rupee up 3 paise against US dollar --
The rupee is trading up by 3 paise to 63.48 per dollar in late morning deals against the American currency on sustained bouts of dollar selling by exporters and banks amid higher local equities.
The rupee opened higher at 63.48 per dollar from yesterday's closing level of 63.51 at the inter-bank foreign exchange market today.
The Indian unit hovered between a high of 63.45 and low 63.53 during morning trade, before it was quoting at its opening level of 63.48 per dollar at 1030 hrs.
The US dollar was trading subdued against its major rivals in early Asian trade, as yen jumped after the Bank of Japan trimmed its buying of long-dated Japanese government bonds in market operations. -- Rupee up 3 paise against US dollar --
The rupee is trading up by 3 paise to 63.48 per dollar in late morning deals against the American currency on sustained bouts of dollar selling by exporters and banks amid higher local equities.
The rupee opened higher at 63.48 per dollar from yesterday's closing level of 63.51 at the inter-bank foreign exchange market today.
The Indian unit hovered between a high of 63.45 and low 63.53 during morning trade, before it was quoting at its opening level of 63.48 per dollar at 1030 hrs.
The US dollar mostly trading subdued against its major rivals in early Asian trade, while yen jumped after the Bank of Japan trimmed its buying of long-dated Japanese government bonds in market operations, helping to stoke speculation about a future exit from its massive stimulus policy.