The Sensex hit a record high of 55,688.50 while Nifty hit a record high of 16,591.40 in early trade.
In broader market, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index rose 0.55% each.
The market breadth was negative. On the BSE, 1294 shares rose and 1663 shares fell. A total of 132 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 207,824,763 with 4,370,906 global deaths.
India reported 369,846 active cases of COVID-19 infection and 432,079 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
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More than 88.13 lakh vaccine doses were administered in the last 24 hours. 55.47 crore vaccine doses have been administered so far under nationwide vaccination drive.
India reports 25,166 new cases in last 24 hours, lowest in 154 days. Active cases constitute 1.15% of total cases, lowest since March 2020. India's Active caseload currently 3,69,846, lowest in 146 days. Recovery Rate currently at 97.51%, highest since March 2020.
Buzzing Index:
The Nifty IT index surged 1.52% to 33,072.40. The IT index has added 4.4% in three days.
Tech Mahindra (up 3.67%), Coforge (up 2.94%), L&T Infotech (up 2.08%), HCL Tech (up 1.94%), Mindtree (up 1.64%), Mphasis (up 1.4%) and Wipro (up 1.29%) were top gainers IT space.
Global Markets:
Asian stocks were trading lower on Tuesday as investors weighed a record-breaking run in the Dow and S&P 500 against concerns that the delta virus variant will choke global growth.
Investors continue to monitor the Covid situation in Australia, with the country's largest cities currently under lockdown.
In US, stocks ended at records Monday with the Dow and S&P 500 closing at record highs despite earlier losses tied to weaker-than-forecast Chinese economic data and the Taliban takeover of Afghanistan.
Investors will look ahead to U.S. retail sales data, set to be released Tuesday stateside by the Census Bureau.
Stocks in Spotlight:
Fiem Industries soared 14.67% to Rs 909.60 after the company said it is the sole supplier of headlamps, tail lamps, indicators, rear fender assemblies and mirrors for Ola Electric's newly launched scooters S1 and S1 Pro. The company said it sees a huge potential in the Indian two-wheeler electric vehicle (EV) segment and going forward, and it is hopeful to capturing greater market share in this segment.
Sadbhav Infrastructure Project (SIPL) and Adani Road Transport (ARTL) have entered into share purchase agreement for the sale of the equity shares of Maharashtra Border Check Post Network (MBCPNL). ARTL, which develops, constructs, operates and manages roads and highway projects in India, will acquire a 49% stake in MBCPNL at first, with an option to acquire additional stake subject to regulatory approval, the company said in a statement. ARTL is a wholly owned subsidiary of Adani Enterprises. The transaction has an enterprise value of Rs 1,680 crore. The acquisition is expected to be completed by Q3 FY22.
Shares of Sadbhav Infra were down 4.25% at Rs 21.40 on BSE.
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