Sensex, Nifty down; Sun Pharma hits record high

The BSE Sensex declined 0.36 per cent and the broader Nifty traded down 0.4 per cent, after three consecutive sessions of gains.

Asian shares also eased as strong economic data rallied U.S. stocks to record highs, throwing market focus back on to the possibility of reduced Federal Reserve monetary stimulus in the future.

Reliance Industries fell 0.4 per cent on profit booking after rising 7.3 per cent in the previous two sessions. Cipla declined 0.5 per cent, heading for a sixth consecutive session of decline, ahead of its March-quarter earnings later in the day.

However, Sun Pharmaceutical surged 3 per cent after it reported net profit rose more than expected and after its management guided for robust sales growth in FY14.

(Copyright Thomson Reuters 2012)