Indian shares rose to all-time highs on Tuesday led by gains in financials and FMCG stocks as investors await outcome of the U.S. Federal Reserve's policy meeting later this week.
The Sensex ended 221 points higher at its new closing high of 52,773 while the Nifty rose 57 points to settle at its fresh closing high of 15,869.
In intra-day deals, the Sensex jumped as much as 318 points to hit its record high of 52,869.51 while the Nifty added as much as 88 points to its new high of 15,901.
"Indian bourses continued its gaining streak tracking optimism from global peers, which is despite the rising inflation concerns. The global market is eagerly awaiting the two-day Fed policy meeting’s decision to see if the Central Bank would signal any change in policy. While domestic CPI jumped to 6.3% in May breaching the RBI’s comfort zone on account of higher food & energy prices, which is expected to ease due to the opening of the economy," said Vinod Nair, Head Of Research at Geojit Financial Services.
Broader markets were also positive for the day with the midcap and smallcap indices up around half a percent each.
On the Nifty50 index, Asian Paints, HDFC Life, Axis Bank, ICICI Bank and SBI Life were the top gainers while Adani Ports, Divi's Labs, Coal India, Tata Motors and Hindalco led the losses.
Among sectors, Nifty Bank and Nifty FMCG rose 0.8 percent each while Nifty Fin Services added 0.5 percent. However, Nifty Metal and Nifty Pharma lost 0.2 percent and 0.8 percent, respectively.
Gayatri Projects jumped 5 percent on Tuesday after the management clarified that the National Highways Authority of India (NHAI) has stopped projects with the company only until earlier orders are rectified.
Gujarat Gas company jumped over 8.5 percent to hit its 52-week high after global brokerage house Nomura remained upbeat on the stock. The brokerage reiterated a buy call on the stock and raised its target price to Rs 875 from an earlier Rs 400.
(Edited by : Pranati Deva)
First Published: IST