Mumbai: Benchmark Nifty Tuesday closed for the first time above 9,300-level, rising nearly 89 points following across-the-spectrum buying activity riding on a global relief rally from French elections and optimistic quarterly earnings.
The key indices resumed gap-up while extending its overnight rebound, it gradually gained with strong momentum during entire session on across-the-board bullish buying as investors opted for longs, the market ended with smart gains.
Index heavyweight Reliance Industries climbed 1.09 percent after the company Monday posted a record Rs 8,046 crore fourth-quarter profit, beating expectations.
The NSE 50-share index opened gap-up at 9,273.05 and gradually rallied to mark the life-time high at 9,309.20 intra-day before settling to hit record closing high of 9,306.60, showing a gain of 88.65 points, or 0.96 percent. It saw an intra-day movement of 58.85 points.
The Nifty marked previous intra-day record high of 9,273.90 on April 5.
Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.
European stocks were trading higher extending previous day's gains, as investors monitor political developments in France and ahead of the European Central Bank's policy meeting later in the week.
Nifty FMCG surged by 1.80 percent, followed by realty 1.51 percent, auto 1.12 percent, energy 1.09 percent, private banks 1.07 percent, banks 0.90 percent and PSU banks 0.72 percent.
The broader mid-cap and small-cap also gained 0.85 percent and 0.79 percent, respectively.
Major index gainers were -- Infratel (4.75 percent), Axis Bank (3.56 percent), IOC (3.46 percent), BPCL (3.43 percent) and M&M (3.39 percent).
The losers included Tata Power (0.93 percent), Cipla (0.74 per cent) and Aurobindo Pharma (0.73 per cent).
A total of 897 shares advanced and 787 declined while 89 ruled steady.
Total securities that hit their price bands were 119.
Turnover in the cash segment jumped to Rs 29,310.01 crore, from Rs 25,927.14 crore Tuesday.
A total of 13,893.64 lakh shares changed hands in 10,153,444 trades. The market capitalization of listed of firms stood at Rs 12,368,628 crore.