Stock markets take breather after record-breaking rally

Benchmark stock indices closed lower on Tuesday due to profit-taking by investors after a record-breaking rally and ahead of release of key inflation numbers.

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After a two-day rally, the 30-share BSE Sensex fell by 377.50 points or 0.54% to settle at 69,551.03. During the day, it declined 484.68 points or 0.69% to 69,443.85.

The broader Nifty scaled a new lifetime intra-day high of 21,037.90 points before closing below the 21,000 level. The 50-issue barometer declined by 90.70 points or 0.43% to close at 20,906.40.

On Monday, the BSE benchmark surged past the 70,000 level for the first time, reaching its record intra-day peak of 70,057.83. Nifty had settled just below the 21,000 level at 20,997.10, its all-time closing high.