<h1>Stock markets retreated from lifetime highs amid profit-taking, FII outflows, and fading rate-cut expectations after stronger GDP.</h1> Benchmarks pulled back from record intraday highs as profit-taking and FII outflows offset earlier gains; fading expectations of a near-term rate cut after stronger Q2 GDP, a weaker rupee, and slower GST collections were cited as primary reasons, while sectoral divergence, muted mid/smallcap moves, and an easing manufacturing PMI added to the cautious market tone.