Sensex closes flat after record highs on profit-booking

The BSE benchmark Sensex settled the day 13 points higher at a fresh closing high of 22,715.33 after surrendering most of its early gains due to profit- booking in a highly volatile trade.

The NSE Nifty breached the 6,800-mark to hit new peak of 6,819.05, but ended the day a tad lower at 6,796.40, which is almost the the same as its overnight close of 6,796.20.

The Sensex surpassed all-time intra-day high of 22,740.04, set on Thursday, and touched a fresh peak of 22,792.49 on firm performances from Asian peers.

Power, capital goods, realty, refinery and auto counters were in demand, while selling in pharma, IT, Teck and FMCG stocks pulled the Sensex down at the fag end.

The BSE 30-share barometer moved erratically but was in the positive terrain for most part of the day. It finally concluded at 22,715.33, a net rise of 12.99 points.

On Wednesday, it had spurted by 358.89 points or 1.61 per cent after the International Monetary Fund (IMF) on Tuesday forecast 5.4 pct growth for the Indian economy in 2014.

The World Bank on Thursday projected that India would grow at a rate of 5.7 per cent in 2014-15.

Foreign Institutional Investors (FIIs) renewed their buying. They infused Rs 1,043.86 crore on Thursday, as per provisional data with stock exchanges.

Tata Power recorded a gain of 4.12 per cent, while NTPC closed 2.57 per cent higher. BHEL rose 2.70 per cent and Tata Motors 2.33 per cent. SBI gained 2.15 per cent

"Investors remained optimistic after World Bank has projected an economic growth rate of 5.7 per cent in fiscal year 2015 for India.... However, short term traders opted to book profits in the later half, resultant a flattish end for Sensex," said Jayant Manglik, President, Retail Distribution, Religare Securities.