Mumbai, Aug 7 (IANS): After touching fresh record levels, the key Indian equity indices ceded all their gains to trade on a flat note during the afternoon session on Tuesday.

According to market analysts, mixed global cues and profit booking by investors led to the indices to shed all the gains.

Minutes into trade, both the S&P BSE Sensex and NSE Nifty50 hit their all-time highs of 37,876.87 points and 11,428.95 points respectively, but they could not hold on to the gains.

At 12.26 p.m., the wider Nifty50 traded 11,387.80 points, higher by 0.70 points or 0.01 per cent from its previous close.

The BSE Sensex which had opened at 37,849.21 points, traded at 37,679.84 points (12.26 p.m.) -- lower by 12.05 points or 0.03 per cent -- from its previous close of 37,691.89 points.

It has touched an intra-day low of 37,586.88 points so far.

The top gainers on the Sensex were Yes Bank, Asian Paints, Tata Steel, Maruti Suzuki and NTPC while the major losers were Adani Ports, Coal India, Axis Bank, Bharti Airtel and Power Grid.