Mumbai: Expectations of a stable government post the general elections along with a strong foreign fund inflow pushed the key Indian equity indices over 1 per cent up on Tuesday.
In just the past two trading sessions, the Sensex has gained close to 900 points. Amid a largely optimistic global and domestic market, the index-pivotal -- NSE Bank Nifty -- hit an all time high contributing to the strong advances witnessed during the trade session.
On the global front, markets are anticipating a positive outcome of the US-China trade negotiations while Jyoti Roy of Angel Broking noted that Brexit may well be a cause of concerns during the next week or two.
The S&P BSE Sensex jumped 481.56 points or 1.30 per cent at 37,535.66, while the Nifty gained 133.15 points or 1.19 per cent at 11,301.20.
"Market continued the bullish rally as investors are expecting the formation of a stable government at the centre," said Vinod Nair, Head of Research, Geojit Financial Services.
Nair added that CPI inflation figure, which is due on Tuesday, will give more insights about RBI's stance towards further rate cut.
Among the gainers were Bharti Airtel, IndusInd Bank, ICICI Bank, Larsen and Toubro (L&T) and Sun Pharma while the top losers in the Sensex pack were Bajaj Finance, Infosys, NTPC, ONGC and Coal India.