BENGALURU: Indian shares hit all-time highs at the open on Wednesday as car maker Maruti Suzuki continued to rally, but the benchmark’s soon surrendered the gains, weighed by financials.

The NSE Nifty 50 and the S&P BSE Sensex rose about 0.1% each at the open to hit record-high levels for the second straight session.

The Nifty has now notched record closing highs 16 times out of the 27 sessions since the start of June, one more than the Sensex.

However, the benchmarks quickly reversed the opening gains to trade about 0.15%-0.2% lower, as of 9:20 a.m. IST.

Maruti Suzuki jumped 1.5%, the most on the Nifty and rising for the second day in a row after local media reported the Indian state of Uttar Pradesh (UP) had waived registration fees on hybrid cars.

Indian shares log all-time closing high levels

Maruti Suzuki is among the top sellers of hybrid cars in the country.

Seven of the 13 major sectors logged losses.

High-weightage financials, private banks and banks were down 0.3%-0.5%.