Domestic equity benchmarks Nifty50 and Sensex surrendered most gains on Friday after hitting record highs for the second consecutive session.
The decline was driven by concerns over IT stocks, amid worries that the US Federal Reserve would delay cutting rates.
The blue-chip NSE Nifty 50 fell by 10.55 points or 0.05 percent, closing at 22,957.1. Meanwhile, the BSE Sensex added a modest 7.65 points or 0.01 percent, ending the day at 75,410.39.
During the session, the 30-share BSE Sensex reached an all-time high of 75,636.5, while the NSE Nifty crossed the 23,000 mark for the first time, peaking at 23,026.4.
Among the Nifty 50, major gainers included HDFC Bank, Bharti Airtel, L&T, BPCL, and UltraTech Cement. The laggards were Adani Ports, Tech Mahindra, Mahindra & Mahindra, JSW Steel, and Titan.
The high-beta Nifty Bank index, comprising 12 constituents including SBI, HDFC Bank, and ICICI Bank, rose 0.42 percent to settle at 48,971.65.
The domestically focused Nifty SmallCap 100 closed 0.17 percent lower, while the Nifty MidCap 100 ended flat.
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