The benchmark indices ended marginally higher on Tuesday ahead of the two-day meet of the members of the Federal Open Markets Committee (FOMC), who would decide on the future course of QE tapering. Earlier, the Sensex and Nifty made new lifetime highs of 22,040.72 points and 6,574.95 points, respectively.
The BSE benchmark, the Sensex ended 22.81 points or 0.10% higher at 21,832.61 points, while the NSE's Nifty ended 12.45 points or 0.19% higher at 6,516.65 points. The FOMC meet begins on Tuesday.
According to experts, the likelihood of a BJP-led alliance coming to power at the Centre and a stable rupee has kept Indian markets strong. “Even as global stocks have been under pressure, rupee’s behaviour due to the steps taken by the RBI coupled with expectations of a BJP-led government has kept markets resilient,” said Vinay Khattar, head (research), retail capital markets, Edelweiss.
Among sectoral indices, the BSE Oil & Gas (0.87%), BSE Power (1.27%) and BSE FMCG (1.87%) were the major gainers. Among individual stocks, Maruti Suzuki (7.58%), State Bank of India (2.72%) and ITC (2.56%) were the major gainers on the 30-share Sensex.
Among Asian indices, the Nikkei (0.94%), Hang Seng (0.51%), Kospi (0.66%) and Taiwan Taiex (0.37%) ended in the green.