Positive global cues along with a strengthened rupee lifted the NSE ' title=' NSE '>NSE Nifty to its new record high of over 9, 300 points ' title=' 300 points '>300 points and the BSE Sensex to its highest closing level in almost three weeks.

Market observers pointed out that inflow of foreign funds and healthy quarterly results restored investors' risk-taking appetite.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) touched a new high of 9,309.20 points in the intra-day trade. It closed at 9,306.60 points, up 88.65 points or 0.96 per cent.

The barometer 30-scrip Sensitive Index (Sensex) of the Bombay Stock Exchange closed higher by 287.40 points or 0.97 per cent. It opened at 29,825.14 points, closed at 29,943.24 points -- up from its previous close at 29,655.84 points.

The Sensex touched a high of 29,961.82 points and a low of 29,780.84 during the intra-day trade.

"Markets rallied sharply on Tuesday with the Nifty closing at new life highs. It was the second consecutive session of hefty gains for Nifty," Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

According to Jasani, Indian equity markets rallied in tandem with global indices after centrist candidate Emmanuel Macron won the first round of the French Presidential election.
 

"Gains were led by index heavyweights ITC, HDFC and Reliance Industries (RIL). Positive earnings from banks also helped," Jasani added.

In terms of global equity markets, major Asian indices ended on a positive note. European indices like FTSE 100 and CAC 40 traded higher.

On the currency front, the Indian rupee appreciated by 18 paise to 64.26-27 per US dollar from its previous close of 64.44-45 to a greenback.

"The benchmark indices rallied for the second consecutive session and extended gains, tracking positive global cues and appreciation of Indian rupee against the US dollar," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) invested in scrip worth Rs 178.82 crore while the domestic institutional investors (DIIs) purchased stocks worth Rs 998.26 crore.

Sector-wise, the S&P BSE banking index surged by 255.15 points, followed by the automobile index, which added 255.12 points, and the oil and gas index, which gained 176.35 points.

Other notable gainers included the FMCG index rose by 154.24 points, the capital goods index was up by 145.53 points.

"Earnings from both private and public sector has shown encouraging signs, lifting banking stocks. Nifty's surge to 9,300 gave added vigour to market," said Anand James, Chief Market Strategist of Geojit Financial Services.

"The government's push in the infra and affordable housing space has also kept housing, cement and realty stocks buzzing."