Markets hit fresh record highs; Sensex climbs 308 points

Benchmark equity indices Sensex and Nifty ticked higher to hit lifetime high levels on Tuesday, helped by hectic buying in market heavyweights ICICI Bank, HDFC Bank and Infosys amid a firm trend in global equities.

Besides, fresh foreign fund inflows boosted investor confidence, traders said.

In a range-bound session, 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 fourth straight session, the 30-share BSE Sensex climbed 308.37 points or 0.40 per cent to settle at a new closing peak of 77,301.14.

During the day, it jumped 374 points or 0.48 per cent to hit the fresh lifetime peak of 77,366.77.

The NSE Nifty went up by 92.30 points or 0.39 per cent to hit a record closing high of 23,557.90.

It rallied 113.45 points or 0.48 per cent to hit the new all-time high of 23,579.05 during the session.

Fitch Ratings on Tuesday raised India's growth forecast for the current fiscal to 7.2 per cent from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.

Among the 30 Sensex companies, Power Grid, Wipro, ICICI Bank, Titan, Mahindra & Mahindra, Axis Bank, HDFC Bank, Infosys, JSW Steel and State Bank of India were the biggest gainers.

In contrast, Maruti, UltraTech Cement, Tata Steel, Tata Motors, ITC and Tata Consultancy Services were among the laggards.

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

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,175.86 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.27 per cent to $84.02 a barrel.