The benchmark BSE Sensex climbed over 379 points on August 16 as gains in oil and gas, banking and auto stocks helped the barometer continue its winning streak for the third consecutive session.
The 30-share BSE benchmark index ended 379.43 points or 0.64% higher at 59,842.21. It jumped 460.25 points or 0.77% to 59,923.03 during the day.
The broader NSE Nifty climbed 127.10 points, or 0.72%, to 17,825.25 as its 42 constituents advanced.
Lowering inflation concerns and buying in major indices Reliance Industries and HDFC twins added to the momentum after wholesale price-based inflation eased to a five-month low of 13.93% in July.
“Reducing inflationary pressures encourages domestic investors to remain optimistic about the pace of economic recovery. Better-than-expected CPI numbers, aided by slower growth in food and fuel prices, rate hike by RBI may limit the speed. Vinod Nair, Head of Research, Geojit Financial Services said.
From the Sensex pack, Mahindra & Mahindra, Maruti, Asian Paints, Hindustan Unilever, UltraTech Cement, HDFC and HDFC Bank were the major gainers.
On the other hand, State Bank of India, Bharti Airtel, Bajaj Finance, Tata Consultancy Services and NTPC were the laggards.
In Asia, Seoul and Shanghai ended higher, while Tokyo and Hong Kong settled lower.
Equities in Europe were trading higher in mid-session deals. Wall Street markets closed with gains on Monday.
Stock markets remained closed on Monday on the occasion of Independence Day.
Meanwhile, international oil benchmark Brent crude fell 0.86% to $94.28 a barrel.
Foreign institutional investors (FIIs) were net buyers in the Indian capital market as they bought shares worth ₹3,040.46 crore on Friday, according to exchange data.