Stock market today: BSE Sensex, Nifty50 see record closing highs

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, saw record closing highs in trade on Tuesday. BSE Sensex ended the day at 80,351.64, up 391 points or 0.49%. Nifty50 closed the day at 24,433.20, up 113 points or 0.46%
The Indian markets’ rally was driven by gains in auto and FMCG shares and foreign fund inflows. Intraday, BSE Sensex jumped 436.79 points or 0.54 per cent to hit a new lifetime high of 80,397.17.During the trading session, Nifty50 surged 123.05 points or 0.50 per cent to reach a new record peak of 24,443.60.
Maruti Suzuki India, one of the Sensex shares, jumped over 6 per cent following reports that the UP government waived registration taxes on hybrid cars as part of its initiative to promote environmentally friendly vehicles in the state. Other significant gainers included Mahindra & Mahindra, Titan, Sun Pharma, ITC, Nestle, and Tata Motors. However, Reliance Industries, Kotak Mahindra Bank, Bajaj Finance, and JSW Steel were among the laggards.
In Asian markets, Seoul, Tokyo, and Shanghai settled higher, while Hong Kong ended lower. European markets were mostly trading lower. US markets, on the other hand, ended mostly higher on Monday. Foreign Institutional Investors (FIIs) bought equities worth Rs 60.98 crore on Monday, according to exchange data. The global oil benchmark, Brent crude, declined 0.51 per cent to USD 85.31 a barrel.
On Monday, the BSE benchmark declined 36.22 points or 0.05 per cent to settle at 79,960.38, while the NSE Nifty dipped 3.30 points or 0.01 per cent to 24,320.55.