Top percentage gainers on the Nifty 50 benchmark index were Yes Bank, GAIL, Titan and Tata Steel
- The Nifty 50 benchmark index crossed an earlier all-time high of 12,103.05 registered in June this year. The Sensex has, however, clocked new record levels several times recently.
- At 1:31 pm, the Sensex traded 74.03 points - or 0.18 per cent - higher at 40,963.26 while the Nifty was up 9.60 points - or 0.08 per cent - at 12,083.35.
- Top percentage gainers on the 50-scrip index at the time were Yes Bank, GAIL, Titan, Tata Steel and ONGC, trading between 1.41 per cent and 2.90 per cent higher. On the other hand, Zee Entertainment, Bharti Infratel and Bharti Airtel - down between 3.58 per cent and 6.56 per cent - were the top laggards.
- Analysts say the market sentiment improved on account of global cues and optimism on government reforms back home.
- “Nifty finally managed to touch new high today on the back of strong global cues, Foreign institutional investor (FII) buying and improvement in market sentiments after the slew of government reforms,” said Siddhartha Khemka, head of retail research at brokerage Motilal Oswal Financial Services. "While the initiatives taken by the government and the RBI will take time to work on the ground and reflect in numbers, the market is focusing on long-term reforms."
- ICICI Bank, Reliance Industries, HDFC and ITC were the top contributors to the rise in Sensex, together accounting for a 123-point gain in the index.
- Analysts awaited macroeconomic data for near-term direction. The government is due to release official data on GDP growth at 5:30 pm on Friday. (Also read: After 7 weeks of upmove, more steam left in banking stocks, say analysts)
- Equities in other Asian markets rose on Tuesday, tracking record closing highs on Wall Street and signs of new momentum by the two largest economies to end their long trade dispute.
- Chinese Vice Premier Liu He held talks over the phone with US Trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on issues related to a phase one trade agreement, China's commerce ministry said. The news sent MSCI's broadest index of Asia-Pacific shares outside Japan up 0.5 per cent to a one-week high.
- On Monday, the Sensex had ended 529.82 points - or 1.31 per cent - higher at 40,889.23 to register its highest closing ever, and the Nifty settled at 12,079.00, up 164.60 points (1.38 per cent) from its previous close.
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