An evening walk down Dalal Street

Looks like there is no stopping this market yet, as shares continued their bullish momentum on Tuesday. A surge in index heavyweights along with the metals space helped the market post another record high close. The Nifty has also managed to end above 11,700-mark as well. Positive global cues also aided sentiment.

Apart from metals, big moves were seen among energy, IT and auto names, while banks and FMCG were the biggest laggards. Interstingly, banks had actually risen in the opening minutes, with the Bank Nifty touching a fresh record. Yes Bank was among the biggest names to drag Bank Nifty lower, even as its MD Rana Kapoor’s fresh term awaits approval by the Reserve Bank of India.

The strong surge was also on the back of a rally in index heavyweights such as Reliance Industries. The stock managed to clock Rs 1,300 in the morning and has ended at a record high.

The day began on a record high note, following good global cues as well. Selloff in banks, initially rattled the markets, but a steady growth among metals, among others, ensured that the nervousness did not last long. Among broader markets, the Nifty Midcap index ended over quarter of a percent lower.

At the close of market hours, the Sensex ended up 202.52 points or 0.52% at 38896.63, while the Nifty ended the session 46.50 points higher or 0.40% at 11738.50. The market breadth is negative as 1,168 shares advanced, against a decline of 1,504 shares, while 187 shares are unchanged.

Reliance Industries, Adani Ports, and Hindalco were the top gainers, while Yes Bank, HUL, and GAIL have lost the most.