Stock Market Today: Nifty, Sensex End At Record High As Maruti Suzuki, ICICI Bank Lead

• The local currency closed flat at 83.49 against the US dollar.

• It closed at 83.50 on Monday.

Source: Bloomberg

Indian benchmarks rebounded sharply to end at record high on Tuesday as shares of Maruti Suzuki India Ltd., ICICI Bank Ltd. led gains.

The NSE Nifty 50 settled 112.65 points or 0.46% higher at 24,433.20, and the S&P BSE Sensex ended 391.26 points or 0.49% higher at 80,351.64.

Intraday, the NSE Nifty 50 index rose 0.51% to a fresh high of 24,443.60, and the S&P BSE Sensex rose 0.55% to 80,397.17.

"Divergence was seen in today's trade where Mid and Smallcaps remained rangebound throughout the day and major buying traction was seen in the Index stocks, particularly in the Auto counters which helped the Nifty 50 to settle the trade at yet another record level of 24,433.20 with gains of 112.65 points," said Aditya Gaggar, director, Progressive Shares.

"Apart from Auto, Pharma and PSU Banking sectors outperformed while IT was the major laggard. The Index has breached its previous high convincingly by forming a big green candle and opening the door for further rally towards the 24,520-24,600 zone while 24,340 will be considered as strong immediate support,": Gaggar said.

Maruti Suzuki India Ltd., ICICI Bank Ltd., ITC Ltd., Mahindra & Mahindra Ltd., and Larsen & Toubro Ltd. added to the index.

Reliance Industries Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Oil & Natural Gas Corp, and Bajaj Finance Ltd. limited gains in the index.

On NSE, nine sectors advanced, and three declined out of 12. The NSE Nifty Auto rose the most, followed by the NSE Nifty Pharma. The NSE Nifty IT declined the most.

Broader markets underperformed benchmark indices. The S&P BSE Midcap and Smallcap ended 0.36% and 0.22% higher, respectively.

On BSE, 15 sectors advanced, and five declined out of 20. The S&P BSE Consumer Durables was the best performing sector. The S&P BSE Telecommunication was the worst performing sector.

Market breadth was skewed in the favour of buyers. Around 2,021 stocks rose, 1,913 fell, and 92 remained unchanged on the BSE.

• Tamilnad Mercantile Bank Ltd.'s board has finalised names of two candidates for position of Executive Director.

Source: Exchange filing

The NSE Nifty Pharma index rose to a fresh high of 20,627.80, as Sun Pharmaceutical Industries Ltd., Cipla Ltd. led.