Benchmark equity indices Sensex and Nifty hit their new all-time high levels on Tuesday tracking firm trends in Asian markets and buying in blue-chip bank stocks.
The 30-share BSE Sensex climbed 541.25 points to hit a fresh lifetime peak of 77,882.33 during the afternoon trade. The Nifty went up by 130.8 points to hit a new record high of 23,668.65.
Among the 30 Sensex companies, Axis Bank, HDFC Bank, ICICI Bank, UltraTech Cement, State Bank of India and Kotak Mahindra Bank were the biggest gainers.
Adani Ports, Power Grid, Tata Steel and Asian Paints were among the laggards.
In Asian markets, Seoul, Tokyo and Hong Kong were trading higher while Shanghai quoted lower.
US markets ended on a mixed note on Monday.
India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank of India said on Monday.
This is the first time in ten quarters that the crucial metric of the country's external strength has turned into surplus mode.
"A positive news from the market perspective is the current account turning surplus in Q4 FY24. This will take away the pressure on the rupee and pave the way for FII inflows when clarity emerges on the Fed rate cuts," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global oil benchmark Brent crude declined 0.06 per cent to USD 85.96 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 653.97 crore on Monday, according to exchange data.
The BSE benchmark ended 131.18 points or 0.17 per cent higher at 77,341.08 on Monday. The Nifty went up 36.75 points or 0.16 per cent to settle at 23,537.85.
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