The S&P BSE Sensex and NSE Nifty 50 indexes turned flat in late morning deals as gains in Reliance Industries, Infosys, Tata Consultancy Services and HDFC and UltraTech Cement were offset with losses in ICICI Bank, Larsen & Toubro, Bharti Airtel and Sun Pharma. Earlier in the day, the benchmarks opened higher and surged to record highs wherein the Sensex rose as much as 302 points to hit an all-time high of 45,728.85 and Nifty 50 index advanced 80 points to record high of 13,435.45. Traders and investors were seen booking profits at record highs, analysts said.
As of 11:45 am, the Sensex was up 57 points 45,484 and Nifty 50 index was down 3 points at 13,352.
Eight of 11 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty Metal index's over 2 per cent decline. Pharma, media, private bank, financial services, bank and auto indexes 0.4-2 per cent each.
On the other hand, PSU banking and real estate shares witnessing buying interest.
Mid- and small-cap shares were underperforming their larger peers as Nifty Midcap 100 index declined 0.6 per cent and Nifty Smallcap 100 index fell nearly 1 per cent.
Adani Ports was top Nifty loser, the stock fell 2.4 per cent to Rs 460. IndusInd Bank, Sun Pharma, Coal India, Grasim Industries, Hindalco, Tata Motors, Tech Mahindra, JSW Steel and Cipla also fell between 1-2 per cent.
On the flipside, UltraTech Cement, Reliance Industries, Maruti Suzuki, Bajaj Auto, TCS, Wipro, Infosys, HCL Technologies and Titan rose between 0.4-2 per cent.
The overall market breadth was negative as 1,593 shares were declining while 1,088 shares were advancing on the BSE.
