The S&P BSE Sensex and NSE Nifty 50 index ended higher on Tuesday led by gains in Reliance Industries, Bharti Airtel, Axis Bank, HDSFC Bank, Infosys and State Bank of India. The benchmarks traded higher during the session and Sensex rose as much as 260 points and the Nifty 50 index briefly moved above 11,950.
The Sensex ended 186 points or 0.46 per cent higher at 40,470 and the NSE Nifty 50 index advanced 56 points or 0.47 per cent to close at 11,940.
Seven of 11 sector gauges compiled by National Stock Exchange ended higher, led by the Nifty PSU Bank index's nearly 4 per cent gain. Nifty Bank, Nifty Private Bank and Nifty Pharma indexes also rose 0.4-0.8 per cent each.
On the other hand, Nifty Metal index fell 0.85 per cent.
Reliance Industries was among the top gainers in the Nifty 50 basket of shares, the stock rose as much as 3.87 per cent to hit an all-time high of Rs 1,514.95. With today's surge, Reliance Industries market capitalization crossed Rs 9.5 lakh crore for the first time.
Bharti Airtel, Bharti Infratel and Vodafone Idea surged 9 per cent, 10 per cent and 38 per cent respectively after Vodafone Idea and Bharti Airtel said that they will increase tariffs of their mobile offerings from December.
Axis Bank, Power Grid, Cipla, Grasim Industries, State Bank of India and Tech Mahindra also rose 1.5-4 per cent each.
On the flip side, Yes Bank, Mahindra & Mahindra, Zee Entertainment, Tata Consultancy Services, Tata Steel and Tata Motors rose 1.3-2.5 per cent each.
The overall market breadth was marginally negative as 1,385 shares ended lower while 1,158 closed higher on the BSE.