Mumbai: A benchmark index of Indian equities markets Friday touched a new high of 26,300.17 points before slipping to 26,096.63 points.
The early gains were wiped out in subsequent sessions and the market closed 175.22 points or 0.67 percent lower with a decline in metal, automobile and bank stocks.
Heavy selling pressure was also seen in capital goods and oil and gas sectors.
But healthcare and fast moving consumer goods (FMCG) stocks saw healthy buying.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,257.14 points, closed at 26,096.63 points (provisional), down 175.22 points or 0.67 percent from the previous day's close at 26,271.85 points.
The Sensex has touched a high of 26,300.17 points and a low of 26,007.31 points in the intra-trade.
Earlier in the day, Sensex hit a record high of 26,300.17 points for the second consecutive day, surpassing its earlier peak of 26,292.66 points it hit Thursday.
However, S&P BSE metal index tanked by 335.81 points, automobile index went down by 270.95 points, bank stocks dipped by 246.23 points, capital goods index fell by 187.54 and oil and gas index dropped by 183.07 points.
However, healthcare index gained by 217.52 points, FMCG index increased 47.90 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) to touched a new intra-day high of 7,840.95 points before closing at 7,790.45 points, down 40.15 points or 0.51 percent from its previous day's close of 7,830.60 points.