Banking stocks, Reliance Industries keep indices' winning streak on course

The benchmark indices staged a strong recovery after opening in the red and ended Tuesday’s session at all-time highs on the back of gains in index heavyweight Reliance Industries and banking stocks.

The benchmark Sensex ended the session at 49,517, a gain of 247 points or 0.5 per cent. The Nifty rose 78 points or 0.5 per cent to end the session at 14,563.

The markets fell initially after the Reserve Bank of India (RBI) mentioned the disconnect between the economy and the stock markets. The central bank said this poses risks to the country’s financial stability. RBI made these observations in