Benchmark indices Sensex and Nifty on Friday retreated from record highs as investors scrambled to book profits in recent high-flying stocks amid fears that India's second quarter GDP numbers may slip further. The 30-share BSE gauge plummeted 336.36 points or 0.82 per cent to close at 40,793.81. The index swung about 466 points during the day.

Nifty50 opened with marginal gains and moved in a narrow range of 60 points throughout Wednesday's session. It formed a small green body candle on the daily chart and closed a tad above the 12,100 level to mark the highest-ever daily close. The index is sustaining well above the breakout of the Bullish Pennant pattern, which certainly bodes well for the bulls.

Positive developments on the US-China trade war front and Sensex rejig were among the key reasons for a rally in domestic equity market. BSE benchmark Sensex jumped 470 points to trade at 40,829. The index also hit a new lifetime high of 40,857.73 during the day. Its NSE counterpart Nifty soared 141 points to 12,056.