Markets clock fresh closing highs

Mumbai: Equity benchmarks Sensex and Nifty on Tuesday scaled new closing peaks for a third day in a row, riding on optimism that the re-election of the BJP-led NDA will push reforms, even as a high volatility during the session reflected a cautious investor outlook in view of tepid global cues.

In a highly volatile trade, the BSE gauge Sensex closed 66.44 points, or 0.17 per cent, higher at 39,749.73 -- its all-time closing high; while the NSE benchmark Nifty logged a marginal rise of 4 points or 0.03 per cent to settle at 11,928.75 -- a new closing peak for the index.

A renewed sense of positivity has been dictating domestic bourses ever since the BJP scored a landslide win in the national election, but investors have slowly turned their focus to other global and domestic factors like trade tariff tussle, macro-economic data and onset of monsoon, among others. Besides, sustained foreign inflows also helped in lifting market sentiment.

The broader BSE midcap and smallcap indices closed up to 0.41 per cent higher. Sectorally, BSE teck, energy, metal, oil and gas, utilities and power indices gained up to 1.64 per cent; while BSE telecom, capital goods, auto, industrials and finance indices ended up to 1.16 per cent lower.

Among the 19 BSE sectoral indices, 10 closed in the green and 9 in the red. Overall market breadth was tilted in favour of buyers as 1,438 stocks advanced and 1,169 declined on the BSE.

Meanwhile, the Indian rupee depreciated by 18 paise to close at 69.69 against the US dollar on Tuesday. Brent crude, the global benchmark, was trading 0.33 per cent higher at $69 per barrel.