Sensex slides from 33-month high

Just when we thought that the Indian markets are all set to breach previous all time highs, bears were back on Dalal Street. Benchmark stock indices started off on an impressive note, but were unable to hold on to their early gains as Capital Goods, Oil & Gas and Power stocks witnessed some profit booking.



The broader indices were also under pressure, taking the market breadth into the negative territory. Shares of Infosys hit new all-time high ahead of its quarterly results on Friday. The BSE IT index also touched a new record.

Markets turned cautious after Wednesday's stupendous rally as the day's results were pretty much mixed. The market sentiment also took a hit after the European markets erased early gains and the market in China also came off session highs.

"Most people must have expected the market to head higher after yesterday's stunning rally. Now, we will have to wait to see new record highs. All eyes are now on Friday's Infosys results and September inflation report," says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex slipped 190 points to close at 20,497. The NSE Nifty lost 56 points to close at 6,177.