The Bombay Stock Exchange Sensex and Nifty50 closed at record highs for the second straight day on Tuesday. The Nifty index closed beyond the 9,500-mark for the first time, settling at 9,512.25 after a 66.85-point jump. Sensex closed at 30,582.60, a rise of 260.48 points from the previous day.
Experts say the gains have mainly been owing to predictions for a good monsoon this year, as well as promising figures for retail inflation, exports and crude oil prices.
The major gainers for the day were Hero MotorCorp, TCS and ACC, while BHEL, ONGC and Kotak Mahindra bank suffered the most.
On Monday, the markets had gained in similar historic fashion, with the Sensex closing at a record high of 30,322.12 points and the Nifty also finishing at its best at the time, at 9,445.40 points. The strong performance was recorded after consumer inflation rates fell to their lowest in five years in April. The spurt was also triggered by a 1.5% rise in oil prices after Saudi Arabia and Russia announced that the cut in crude oil production will be extended till March 2018. An early monsoon prediction by the Met department also boded positively for the market.