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The BSE Sensex and Nifty hit record highs for a third session in a row. Sentiment was also supported as foreign investors remained net buyers for a third consecutive session on Tuesday, though of shares worth a modest $30.80 million, bringing their net total to $135.24 million since Thursday.
Analysts expect gains to be limited in the near term as companies post their financial results and India continues its five-week long election process.
Markets will remain shut on Thursday when Mumbai goes to the polls.
The Sensex gained 0.52 per cent to close at 22,876.54. The index earlier rose as much as 0.63 per cent to a record high of 22,912.52. The Nifty closed 0.37 per cent higher at 6,840.80, after gaining as much as 0.68 per cent to hit a life high of 6,861.60.
Investors continued to accumulate infrastructure and capital goods stocks, with Larsen and Toubro gaining 2.21 per cent in a fourth consecutive winning session.
