Domestic share markets were trading sideways this afternoon after registering new record highs earlier in the session. The S&P BSE Sensex index surpassed the 48,600 mark for the first time ever, extending a rally that entered an eleventh straight day on optimism around COVID-19 vaccines and foreign fund inflows. The 30-scrip index opened 178.88 points, or 0.37 per cent, higher at an all-time high of 48,616.66, and the broader NSE Nifty 50 benchmark added 41.45 points (0.29 per cent) to its previous close to start the day at an all-time high of 14,240.95.
At 12:30 pm, the Sensex was trading at 48,420.88, lower by 19.93 points or 0.05 per cent and the Nifty was at 14,205.85, up 0.4 per cent.
GAIL, ONGC, Bharti Aitel, ONGC, SBI and ICICI Bank, trading between 1.9 per cent and 4 per cent higher, were the top percentage gainers in the Nifty-50 basket of shares. Tata Motors, Wipro and Grasim were the other significant gainers at the time.
On the other hand, ITC, Reliance Industries and HDFC were among the major Nifty laggards, losing around 2 per cent each.
Among stocks in the news, BEML shares gained more than 2 per cent at Rs 1,013.50 after the company bagged orders from the Ministry of Defence for supplying high mobility vehicles at an approximate value of Rs 758 crore.
The NSE market breadth was positive. Out of 2,218 shares traded on the NSE, there were 1,111 advancing shares as against 749 declines.