The BSE benchmark index Sensex today retreated from record levels to close almost flat with moderate loss of 6 points due to profit booking in IT, metal and auto stocks ahead of monthly settlement in derivatives.
The 30-share index had climbed to all time high of 22,853.03 points in early trade on select buying in bluechips.
However, the barometer pared gains later in the day due to profit booking and ended with marginal loss of 6.46 points, or 0.03 per cent, at 22,758.37 points.
The broad-based Nifty of the National Stock Exchange also climbed to record level of 6,838, before ending at 6,815.35, down by 2.30 points, or 0.03 per cent.
"Despite some profit booking, the index maintained positive bias and stock specific buying kept the index above 6800 level on closing basis too," Rakesh Goyal, Senior Vice President, Bonanza Portfolio Ltd.
IT, metal and auto stocks witnessed profit booking after a recent rally pulling the indices back from record levels, brokers said.
Investors were also offloading their positions as the monthly settlement preponed to Wednesday, they added. Market will be closed on Thursday for Lok Sabha elections in Mumbai.
"In coming sessions, 6830 shall be crucial deciding level in near term, and index is likely to witness further buying above this level," Goyal said.
Among major losers, Sesa Sterlite fell by 4.01 per cent, Wipro by 2.80 per cent, while Infosys, SBI and Tata Motors fell up to 1 per cent.
However, gains in RIL, Larsen & Toubro and HDFC Bank cushioned the market from a major fall. Larsen & Toubro gained 1.65 per cent, HDFC Bank by 1.36 per cent and RIL by almost 1 per cent. HDFC Bank rose after it posted 23 per cent jump in Q4 net profit.
In 30-BSE index components, 18 stocks declined.
Bajaj Auto, ITC, Mahindra and Mahindra, Maruti Suzuki and Tata Steel were also among major losers.
The metal sector index suffered the most by losing 0.79 per cent to 10,412.29 followed by IT index by 0.55 per cent to 8,798.05. Teck index lost 0.52 per cent to 4,916 and FMCG index by 0.46 per cent to 6,949.55.