BENGALURU: Indian shares logged all-time closing high levels on Tuesday as car maker Maruti Suzuki and consumer stocks helped the benchmarks continue their post-election rally.
The benchmarks NSE Nifty 50 rose 0.46% to 24,433.2, while S&P BSE Sensex settled 0.49% higher at 80,351.64. In the 26 sessions since the start of June, the Nifty has notched record closing highs 15 times, one more than the Sensex.
In that period, the Nifty has gained 8.44%, hitting an all-time high 16 times, as the national elections ensured policy continuity and as the central bank raised its economic growth forecast.
That also enabled the return of foreign investors too, after a two-month lull. Foreign inflows have reached $4.52 billion since the beginning of June, while domestic equity mutual fund inflows hit a record high in June, aiding the market’s momentum. The broader, more domestically focussed small- and mid-caps hit all-time highs enroute to gains of about 0.3% each on the day.
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