A sweeping victory for the Bharatiya Janata Party in Gujarat assembly elections did little to lift the mood in Dalal Street, as the hawkish view of RBI on inflation Wednesday played on the minds of investors.

Following RBI's 35 basis point rate hike and hawkish stance to bring inflation down, Sensex ended 216 points lower while the Nifty ended below 18,600 mark. Global cues weren't supportive of bulls either. Today was the third straight day of losses for the Nifty.

A slew of factors including RBI’s monetary policy outcome tomorrow, a weak Indian rupee and renewed concerns over policy tightening by the Fed pushed Sensex 208 points lower on Tuesday while Nifty ended below the 18,650-mark. Barring PSU banks and FMCG stocks, selling was seen across sectors.

In the Sensex pack, Reliance, Tech Mahindra, UltraTech Cement, Dr Reddys Lab, Axis Bank, Bharti Airtel and Bajaj Finserv were among the top losers, falling about 0.5-1.5%. TCS, M&M, Maruti, HCL Tech, Bajaj Finance and ITC also closed lower.

A lot of small investors are having FOMO because they haven't made enough money in the last one year even when the Sensex is at record high because of the underperformance of mid and smallcaps.

The 30-share pack Sensex advanced 184 points to end at 63,284, while its broader peer Nifty50 ended above the 18,800 mark after touching a new peak of 18,888 in intra-day trade.

Amid renewed buying by FIIs, Sensex today zoomed past the 63,000 mark for the first time ever while Nifty ended well above the 18,700 mark.

The 30-share Sensex ended 177 points higher at 62,682, while its broader peer Nifty 50 ended above the 18,600 level after touching a new peak of 18,678.

The 30-share Sensex ended 211 points higher at 62,504, while its broader peer Nifty50 ended above the 18,550 level after touching a new peak of 18,614.

With both Sensex and Nifty near record high levels, many investors are worried whether they should take some profits off the table as global macro headwinds are showing no signs of slowing down even as the domestic factors are strong.