Indian stock markets (Sensex and Nifty) ended on a positive note for the second consecutive day on Tuesday with BSE Sensex closing near 38,900 and NSE Nifty finishing beyond 11,700 for the first time in stock market trading history. Shares of the index heavyweight, Mukesh Ambani-controlled Reliance Industries Ltd (RIL) provided the biggest boost to Sensex and Nifty on Tuesday after the stock crossed Rs 1,300 mark to hit a fresh all-time high, both intraday and closing.
Other than Reliance Industries (+87 points), HDFC twins (HDFC Bank and HDFC) along Infosys, Maruti Suzuki, Axis Bank, Kotak Mahindra Bank and TCS added about 167 points to the S&P BSE Sensex index. Shares of Yes Bank (down 3.07%), HUL (down 1.04%), SBI (down 1.07%) and ONGC (down 0.94%) were among the biggest losers while stocks of Vedanta (up 2.2%), Adani Ports (up 2.2%), Reliance Industries (up 2.06%), Maruti Suzuki (up 1.72%), Axis Bank (up 1.62%), Tata Steel (up 1.32%), NTPC (up 1.29%), HDFC (up 1.21%), Kotak Mahindra Bank (up 0.9%) and HDFC Bank (up 0.88%) were the top gainers on BSE Sensex index.
The domestic stock markets started at fresh record highs. BSE Sensex breaching 38,900 for the first time in stock market trading history. NSE Nifty retaking 11,700. The broader Nifty 50 index hit a fresh all-time high at 11,760.2. The benchmark Sensex logged a record high at 38,938.91. The sentiments were upbeat on the positive global cues after the tech-heavy stock index Nasdaq Composite breaching the 8,000-mark. Nasdaq Breached 8,000-mark for the first time ever and US dollar slipped to nearly 1-month low.
Asian shares advanced on Tuesday and the US dollar hovered near one-month lows. US-Mexico deal to overhaul the North American Free Trade Agreement boosted risk appetite. Investors expect Canada too would agree to the new terms to preserve a three-nation pact. Ultimately dispelling the economic uncertainty prompted by US President Donald Trump’s repeated threats to ditch the 1994 NAFTA accord.