The Sensex closed above 77000 for the first time while the broader bellwether — the Nifty 50 — scaled a fresh peak on Tuesday as key equity indices stayed on the record-breaking run powered by a rally in index majors ICICI Bank, HDFC Bank and Infosys.

Besides, renewed foreign fund inflows amid a firm trend in global equities boosted investor confidence, traders said.

In a range-bound session, the Sensex and Nifty settled at their new closing all-time high levels amid intense demand for realty, consumer durable and utility stocks.

Rising for the third straight session, the 30-share BSE Sensex climbed 308.37 points or 0.40 per cent to settle at a new closing peak of 77301.14. During the day, it jumped 374 points or 0.48 per cent to hit the fresh lifetime peak of 77366.77.

The NSE Nifty went up 92.30 points or 0.39 per cent to hit a record closing high of 23557.90 for the fourth straight session. It rallied 113.45 points or 0.48 per cent to hit the new all-time high of 23579.05 during the day trade.

“The market touched record highs again and is gradually expanding the gains achieved following the national election. It is responding positively to the upcoming budget, which is anticipated to strike a balance between growth and populism,” said Vinod Nair, head of research, Geojit Financial Services.

“Similarly, it is also taking cues from positive global market trends, with the US moving steadily towards the presidential election in November. Market volatility has decreased over the month, which is contributing to a short-term trend,” he said.

“Indian equities are trading at an all-time high zone led by positive macros and US markets scaling to new highs. Further, 27 per cent growth in advance direct tax receipts for the first quarter supported the sentiments,” Siddhartha Khemka, head — retail research, Motilal Oswal Financial Services Ltd, said.

“Global equities ticked higher on Tuesday, following a tech-led rally in the US the previous night and as an uneasy calm held in Europe post the recent selloff and traders awaited remarks from a horde of US Federal Reserve officials,” Deepak Jasani, head of retail research at HDFC Securities, said.

Derivatives check

India’s markets regulator is considering a series of tweaks to its derivative trading rules, according to two sources, as it seeks to address risks arising from explosive growth in options trading.

The new rules could include higher margins for options contracts and more detailed disclosures, and are being considered after a series of meetings with exchanges, brokers and fund houses over the past four months, the sources, with direct knowledge of the matter, said.

Both sources declined to be identified as they are not authorised to speak to the media.

Trading in index and stock options has soared in India in the last few years, fuelled by retail investors, sparking warnings from market participants and government officials. The notional value of index options traded more than doubled in 2023-24 to $907.09 trillion from the year before.

Le Travenues

Shares of Le Travenues Technology Ltd, which operates travel booking platform ixigo, on Tuesday ended with a huge premium of over 78 per cent against the issue price of ₹93.

The stock started the trade at ₹135, rallying 45.16 per cent from the issue price on the BSE. Later, it zoomed 74.18 per cent to settle at ₹161.99.

At the NSE, it listed at ₹138.10, up 48.49 per cent. The stock ended at ₹165.72, skyrocketing 78.19 per cent.

In traded volume terms, 76.43 lakh shares of the company were traded at the BSE and 964.60 lakh shares on the NSE during the day.

With inputs from Reuters & PTI