Broader indices hold strength; Reliance dips nearly 1%

Equity benchmark indices hit fresh highs for the second session on Thursday but soon pared gains to turn nearly flat. The BSE Sensex was up 85 points after hitting a new peak of 74,245 and the Nifty rose to 22,523, holding slim gains of 30 points. JSW Steel, Bajaj twins, Power Grid, Tata Steel and SBI led gains on the Sensex, while UPL was the additional Nifty gainer. On the flip side, M&M, ICICI Bank, Infosys, TCS and RIL were among the frontline drags. BSE Smallcap index gained 0.7 per cent, partially recouping previous day's sharp losses. Midcap pocket was up 0.2 per cent. Among stocks, NLC fell over 3 per cent as the government will sell its 7 per cent stake in the company via an OFS today.