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The benchmark Sensex reached the 85,000 mark and the Nifty breached 26,000 for the first time on Tuesday, before paring gains to close flat in a volatile session influenced by losses in FMCG and select banking shares. 

The 30-share BSE benchmark fell by 14.57 points, or 0.02 per cent, to settle at 84,914.04, ending a three-day record-breaking streak.

During morning trade, the BSE Sensex climbed 234.62 points, or 0.27 per cent, to achieve a new all-time intra-day peak of 85,163.23, spurred by China’s announcement of stimulus measures aimed at bolstering its economy, which positively impacted metal shares. 

However, profit-taking led to a decline, with the index hitting a low of 84,716.07 in the afternoon session.

Selling pressure from major players such as Hindustan Unilever, Kotak Mahindra Bank, and ICICI Bank pulled the key index down from its day’s highs. 

The Nifty managed to gain 1.35 points, or 0.01 per cent, closing at a fresh high of 25,940.40 after reaching an intra-day record of 26,011.55, up 72.5 points, or 0.27 per cent.

Traders noted that investors are struggling to find clear direction following the recent record rally. 

Among the 30 Sensex firms, Hindustan Unilever, UltraTech Cement, Kotak Mahindra Bank, IndusInd Bank, Titan, Nestle, Bajaj Finance, and Asian Paints were among the biggest laggards. In contrast, Tata Steel, Power Grid, Tech Mahindra, HCL Tech, Mahindra & Mahindra, and JSW Steel saw gains.

The BSE midcap index climbed by 0.21 per cent, while the smallcap index dipped 0.04 per cent. Sector-wise, FMCG fell by 0.75 per cent, telecommunications by 0.57 per cent, services by 0.45 per cent, financial services by 0.40 per cent, consumer durables by 0.31 per cent, and bankex by 0.30 per cent. 

Conversely, metal shares surged by 2.78 per cent, while power jumped 1.38 per cent, utilities rose by 1.18 per cent, commodities gained 0.95 per cent, and industrials increased by 0.47 per cent.

In broader Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended positively, with Shanghai and Hong Kong experiencing significant gains. European markets were also trading in the green, following a positive close on Wall Street on Monday. 

According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth ₹404.42 crore on Monday.

Meanwhile, global oil benchmark Brent crude rose by 2.35 per cent to reach $75.64 a barrel.