Benchmark equity indices Sensex and Nifty scaled new lifetime high levels in intra-day trade on Tuesday before closing with gains on the back of buying in FMCG and oil shares and positive global cues.

In a volatile trade, the 30-share BSE Sensex climbed 122.10 points or 0.17 per cent to settle at 71,437.19. During the day, the barometer jumped 308.62 points or 0.43 per cent to reach its all-time intra-day high of 71,623.71.

The broader Nifty climbed 86.4 points or 0.40 per cent to hit its record peak of 21,505.05. It finally closed higher by 34.45 points or 0.16 per cent at 21,453.10.

Buying in FMCG, oil and gas, power and select banking shares supported the recovery while losses in IT and auto shares capped gains, analysts said.

Among the Sensex firms, Nestle rose the most by 4.66 per cent. NTPC rose by 2.16 per cent, Reliance Industries by 1.53 per cent, State Bank of India by 1.04 per cent and Hindustan Unilever by 1.03 per cent. ITC, Power Grid and Bajaj Finance were the major gainers.

Wipro, Tata Consultancy Services, HCL Technologies, Tata Steel, Bajaj Finserv and Maruti were among the laggards.

"The broader market sustained its optimism, but the incremental rally is contracting. Investors are cautious ahead of the Eurozone inflation data announcement, which is forecast to drop marginally," said Vinod Nair, Head of Research, Geojit Financial Services.

In the broader market, the BSE midcap gauge declined 0.31 per cent while smallcap index climbed 0.10 per cent.

Among the indices, energy jumped 1.49 per cent, FMCG climbed 1.24 per cent, utilities (0.75 per cent), oil & gas (0.46 per cent) and power (0.39 per cent).

Commodities, consumer discretionary, IT, auto, teck and capital goods were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai settled in the positive territory, while Hong Kong ended lower.

European markets were trading in the green. The US markets ended with gains on Monday.

Global oil benchmark Brent crude declined 0.30 per cent to USD 77.72 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 33.51 crore on Monday after continuous buying, according to exchange data.

Snapping its three-day rally, the BSE benchmark declined 168.66 points or 0.24 per cent to settle at 71,315.09 on Monday. The Nifty fell by 38 points or 0.18 per cent to 21,418.65.

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