Mumbai: Stocks retreated from record highs due to selling in telecom, banking, FMCG and oil stocks, with the benchmark Sensex trading higher by 37.88 points or 0.11 per cent at 33,185.01 in late morning trade.  

The 30-share Sensex resumed higher at 33,228.32 and surged to record high of 33,270.62 in early trade as power, capital goods, auto, industrials and healthcare stocks gained on the first day of November derivatives series.  

However, selling in telecom, energy, finance, banking, Teck and oil&gas stocks pulled back the index from record highs. The broader NSE Nifty was trading down by 11.15 points or 0.11 per cent at 10,332.65 at 1140 hrs. The 50-share index hit fresh intra-day high of 10,366.15 by climbing 22.35 points in early trade.  

Among secondary indices, the S&P BSE Mid-Cap index rose 0.59 per cent and the S&P BSE Small-Cap index gained 0.58 per cent. Both the indices outperformed the Sensex.   Major gainers were, Adaniports 4.59 pct, Kotak Bank 2.05 pct, SunPharma 1.80 pct, TataMtrDvr 1.78 pct, ITC 1.68, Bajaj Auto 1.54 pct, Maruti 1.50 pct and HeroMotoCo 1.35 pct.  

However, BhartiAirtel fell 3.91 pct, SBIN 1.90 pct, Wipro 1.72 pct, ICICI Bank 1.44 pct and Hindunilever 1.16 pct. Foreign portfolio investors (FPIs) sold shares worth a net Rs 375.63 crore yesterday, as per provisional data released by the stock exchanges.  

Domestic institutional investors (DIIs) sold shares worth a net Rs 523.54 crore, as per provisional data. Globally, Asian stocks rose following gains in US equities as earnings and congressional action on tax reform boosted confidence in the growth outlook.