Backed by sustained inflows from foreign portfolio investors (FPI) and positive economic data, the 30-share index rose 242 points, or 0.4 per cent, to close Tuesday at 61,354 points, its highest level since December 20, 2022.
The Nifty50, on the other hand, rose 82 points or 0.5 per cent to close at 18,147, its highest point since January 18. This was the sixth straight day of gains for the 50-share index.
Back home, positive FPI flows and economic data kept sentiment upbeat. On Tuesday, FPIs bought shares worth nearly Rs 2,000 crore even as domestic institutions pulled out close to Rs 400 crore.
The day’s market breadth was strong with 2,179 stocks advancing and 1,314 declining. More than half of the Sensex stocks ended with gains. Tech giant Infosys rose 2 per cent and was the biggest contributor to index gains. Sun Pharma, on the other hand, declined the most among Sensex components with a loss of 1.5 per cent.
“We may see some consolidation citing caution ahead of the outcome of the US Fed meeting. However, the tone is likely to remain positive so maintain the ‘buy on dips’ approach. Sectors like energy, IT and metal are now trying to catch up with the other key sectors, which is further adding to the buoyancy,” said Ajit Mishra, vice president, technical research, Religare Broking.