Mumbai: Market benchmark BSE Sensex jumped over 200 points in early trade on Tuesday to hit its record high of 41,108, and NSE Nifty surged to its lifetime peak of 12,126 amid sustained foreign fund inflow and positive global cues.
The 30-share index was trading 218.82 points, or 0.54%, higher at 41,108.05. Similarly, the broader Nifty rose 51.55 points, or 0.43%, to 12,125.50.
Top gainers in the Sensex pack included Yes Bank which rose up to 1.57%, Tata Steel 1.54%, Sun Pharma 1.45%, ICICI Bank 1.48%, Infosys 1.10% and RIL 0.76%.
On the other hand, Bharti Airtel fell up to 1.73%, Kotak Bank 0.40%, Bajaj Auto 0.33 per cent, L&T 0.22% and Hero MotoCorp slipped 0.05%.
On Monday, the Sensex ended 529.82 points, or 1.31%, higher at 40,889.23 its all-time closing peak. Likewise, the Nifty closed with a gain of 159.35 points, or 1.34%, at 12,073.75 just shy of its life-time closing high.
According to experts, market is on a high tracking sustained buying from foreign investors over last couple of weeks, easing global worries on the trade tariff front, new developments over divestment to curb fiscal deficit and expectations of cut in interest rate by the Reserve Bank of India.
Short covering ahead of the expiry of November derivatives contracts on Thursday is also contributing to the rally, traders said.
Foreign institutional investors bought shares worth Rs 960.90 crore in the capital market in the previous session, while domestic institutional investors sold equities worth Rs 213.66 crore, data available with stock exchange showed.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a mixed note.
Stocks on Wall Street ended in the green on Monday. On the currency front, the rupee appreciated 8 paise against the US dollar to trade at 71.66 in early session.
Brent futures, the global oil benchmark, slipped 0.05% to $62.59 per barrel.