For the first time, Sensex achieved a historic milestone by closing above the 80,000 mark while the Nifty 50 also ended above the 24,300 mark.

However, despite opening higher, both indices retraced most of their gains throughout the day and closed only marginally higher.

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After opening at 80,321.79, the Sensex rose 0.50% to hit its fresh record high of 80,392.64. However, the index erased most gains and settled just 63 points, or 0.08%, up at 80,049.67.

The Nifty 50 opened at 24,369.95 against its previous close of 24,286.50 and also clocked a gain of about half a per cent to make a fresh peak of 24,401 closing 16 points, or 0.06%, up at 24,302.15.

BSE Midcap and Smallcap indices hit fresh record highs and closed with gains as the BSE Midcap and Smallcap indices ended 0.60% higher each. The overall market capitalisation of the firms listed on the BSE rose to a record level of nearly Rs 447.36 lakh crore.

On Nifty 50, the gainers were Tata Motors (2.75%), HCL Tech (2.63%) and ICICI Bank (2.53%) while the shares of HDFC Bank (2.30%), Bajaj Finance (2.06%), and Adani Enterprises (1.47%) closed as the top losers.

Among the sectors, Bank Nifty at 0.03% closed almost flat. The Private Bank index and PSU Bank index inched up by 0.07% and 0.16%.

Nifty Pharma up by 1.39%, Healthcare by 1.28%, IT by 1.10%, and Auto up by 0.73% stood at the top gainers.

HDFC Bank shares dropped over 2% to Rs 1,727 per share making it the top Nifty loser.

Shares of Bandhan Bank surged 2% to Rs 214 per share after it exhibited strong growth in advances and deposits in the April-June quarter.

Shares of Cello World surged nearly 7% to hit an all-time high of Rs 1,025 after the company launched a qualified institutional placement to raise Rs 730 crore.

As per the recent data, Indian indices have risen nearly 10% in dollar terms in this current calendar year.

Compared to India, UK’s FTSE 100 is up 5.77% in CY24, while France’s CAC 40 dipped by 1.1%. Germany’s DAX gained 7.2%.

In Asia, Japan’s Nikkei and Topix each saw gains of 6.2%, while Hong Kong’s Hang Seng moved up 5.8%.

China’s Shanghai Composite has fallen 2.5% with South Korea’s Kospi also registering a fall of 1%.