Sensex, Nifty slip from record high as exit poll euphoria subsides

The benchmark indices on Tuesday came off their record highs as investors took profits after judging recent gains as excessive. 

The Sensex and the Nifty50 had ended at new all-time highs in the previous session after rallying close to 4 per cent, after exit polls predicted that the Narendra Modi government was set to retain power. The two indices extended gains on Tuesday but failed to sustain the momentum as banking and automobile stocks came under heavy selling pressure. 

The Sensex ended 383 points, or 0.97 per cent, lower at 38,970, while the Nifty50 index declined 119 points, or 1.01