Equity benchmark Sensex jumped over 220 points in early trade on Tuesday, tracking gains in index-heavyweights HDFC twins, Infosys, TCS and Reliance.
The 30-share BSE index was trading 220.67 points or 0.42% higher at 52,772.20 in initial deals. Similarly, the broader NSE Nifty advanced 62.35 points or 0.39% to 15,874.20.
All the Sensex constituents were trading with gains in morning trade.
Asian Paints was the top gainer in the pack, surging around 1.5%, followed by IndusInd Bank, ONGC, Bajaj Finserv, Hindustan Unilever, Bharti Airtel and Kotak Bank.
In the previous session, the 30-share BSE Sensex ended 76.77 points or 0.15% higher at its new closing peak of 52,551.53. The NSE Nifty rose 12.50 points or 0.08% to a record 15,811.85.
On the macro-economic data front, rising prices of edible oils and protein-rich items pushed the retail inflation to a six-month high of 6.3% in May, breaching the comfort level of the Reserve Bank and thus rendering reduction in interest rates a difficult proposition in the near term.
The wholesale price-based inflation accelerated to a record 12.94% in May, on account of rising prices of crude oil, manufactured goods and a low base of last year. In May last year, WPI inflation was (-) 3.37% and in April 2021, WPI inflation hit double-digit at 10.49%.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth ₹503.51 crore on Monday, as per provisional exchange data.
Elsewhere in Asia, bourses in Tokyo and Seoul were trading on a positive note in mid-session deals, while Shanghai and Hong Kong were in the red.
U.S. equities finished mixed in the previous session.
International oil benchmark Brent crude was trading 0.25% higher at $73.04 per barrel.