BENGALURU, June 19 Reuters India39;s bluechip Nifty 50 and Sensex indexes declined on Monday due to profittaking as they approached their alltime highs, although the broader indexes extended their rally to record levels.

The Nifty index closed 0.37 lower at 18,755.45, while the benchmark SP BSE Sensex fell 0.34 to 63,168.30. They rose as much as 0.30 earlier, with the Nifty coming within 10 points of its record high of 18,887.60.

There is nervousness in domestic equities near record high levels due to concerns over high valuations and monsoons, said G Chokkalingam, founder and head of research at Equinomics Research Pvt.

While positive triggers such as slide in inflation, the fall in crude oil prices and strong macroeconomic fundamentals are in place for a sustained rally, monsoon rains could decide the nearterm trajectory of the benchmarks.

However, the more domestically focused Nifty midcap 100 index rose as much as 0.72 to a fresh record high and the Nifty smallcap 100 hit an over oneyear high. They logged gains of 0.04 and 0.27, respectively, at the close.

Meanwhile, global equities were also mostly lower due to caution ahead of China39;s rate decision on Tuesday and U.S. Federal Reserve Chair Jerome Powell39;s congressional testimony on Wednesday and Thursday.

In India, 10 of the 13 major sectoral indexes declined.

Among individual stocks, Larsen Toubro rose as much as 2.24 to a new record high after Macquarie said the company would be a key beneficiary of…