Nifty, Sensex end at record closing high; ICICI Bank, IndusInd bank lead

In intra-day deals, the S&P BSE Sensex gained as much as 458 points to hit a new high of 39,364, surpassing the previous high of 29,270, hit on April 3. Similarly, the Nifty50 index rose 120 points to hit a record high of 11,810.95, surpassing the previous high of 11,761, hit on April 3.

Foreign investors bought shares worth a net $420.2 million in the last three sessions, taking the total purchase for the month to $2.01 billion.

Meanwhile, global markets inched higher on Tuesday as reassuring data about the health of China's economy helped investors shrug off disappointing bank earnings in the United States, while volatility in European markets took another leg lower.

IndusInd Bank, ICICI Bank, Titan, ONGC, and Grasim gained the most on Nifty, while Wipro, Cipla, GAIL, Infosys, and Tata Motors fell the most on the index.

Sectoral indices were trading mixed with Nifty Bank, Nifty Auto, and Nifty Fin Services gaining, while Nifty IT, Nifty Realty, and Nifty PSU Banks fell. Meanwhile, Nifty Midcap and Nifty Smallcap ended flat for the day, but in red.

Nifty Bank lifted the index to a record high, gaining over 1 percent led by gains in IndusInd Bank, ICICI Bank, RBL Bank, Kotak Bank and Axis Bank.

ICICI Bank rose nearly 4 percent and was one of the top gainers on both the indices after Goldman Sachs raised its target price of the stock to Rs 492 from Rs 451.

Jet Airways fell 6.5 percent after new developments suggested Jet Airways operations might shut down as their lenders failed to approve emergency fundings. The stock slipped nearly 19 percent in intra-day trade. Rival stocks SpiceJet and Interglobe Aviation surged 11 percent and 6.8 percent, respectively, on the development.

Wipro fell over 2 percent after the IT services firm said it was investigating a potential breach of some of its employee accounts due to an advanced phishing campaign. The company is due to release its fourth-quarter results later in the day.