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Sensex, Nifty scale record highs for 2nd day on earnings optimism

Mumbai: Market benchmark indices Sensex and Nifty closed at life-time high levels for the second day in a row on Tuesday following gains in index-heavyweights HDFC, ITC, Axis Bank and TCS.

In a choppy trading session, the 30-share BSE Sensex hit life-time high of 41,994.26 in day trade. It finally settled up by 92.94 points or 0.22 per cent at 41,952.63 - its all-time closing high. The broader Nifty of NSE also scaled a lifetime high (intra-day) of 12,374.25, before ending 32.75 points, or 0.27 per cent, higher at 12,362.30, which is its record closing level.

Official data released after market hours on Monday showed that retail inflation soared to more than five-year high of 7.35 per cent -- above the RBI's comfort level -- in December due to high vegetable prices.

Wholesale price index-based inflation also surged to an eight-month high of 2.59 per cent in December due to high prices of food articles, according to official data released on Tuesday.

Hero MotoCorp was the top gainer in the Sensex pack, rallying 2.15 per cent. ITC rose by 1.74 per cent, NTPC by 1.48 per cent, M&M by 1.43 per cent, Tech Mahindra by 1.42 per cent, Axis Bank by 1.38 per cent, Nestle by 1.32 per cent, HDFC by 1.1 per cent and TCS 0.74 per cent. On the other hand, IndusInd Bank was the biggest loser among Sensex stocks, dropping by 3.85 per cent. The bank posted a 32 per cent rise in net profit to Rs 1,300.20 crore for the December quarter.

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