BSE Sensex crossed 17,000 levels, but ended the day lower due to selling pressure and profit booking in some index heavy-weights. The stock market closed at 16,921. Technology stocks were major gainers, while some banks and real estate stocks were in the red.

Indian Stock markets have crossed the 17000 mark. The markets were strong on back of IT Stock and Reliance. This is the fastest gain of 1000 points by BSE Sensex and Bulls have done this is just one week. Technology, market laggards, also participated in the last lap, driving the Sensex to a record high of 17,025.07 early Wednesday.

During the early trades, the markets jumped by nearly 90 points to be close to 17000 target. Infosys, Satyam Computers, Wipro and ICICI bank were among the gainers in Sensex stocks. Markets soon touched their highest 17,025 points.

Indian Stock markets had a very volatile session. The markets started the day on a flat note, but soon touched all time high. As suggested by some Technical Analysts, the markets could not touch the 17000 level. The markets came down sharply and lost the early gains. Profit booking was cited as one reason and another was the Futures and Options closing for the month.