Sensex retreats after hitting new peak of 7,228

Bulls slowed down their pace on Monday but not before taking the benchmark Sensex above the 7,200 level in intra-day trading. Weakness in global markets and a surge in oil price nearing $60 a barrel triggered profit-taking in the latter part of the trading session after the Sensex spurted to a lifetime high of 7,228 earlier during the day.

Reliance group companies came sharply off the higher level in the second half of the trading session after moving up earlier during the day. The barometer BSE Sensex gained only 2.46 points, or 0.03 per cent, to 7,151.08. At its close of 7,151.08, the Sensex lost 77.13 points from its peak of 7,228.21.

During the day, gains in Reliance group stocks powered a solid rise on the bourses when the Sensex advanced as much as 79.59 points to strike a lifetime high of 7,228.21.