Sensex closes 261 points higher, Nifty just shy of 14,200

The frontline S&P BSE Sensex ended the choppy session near record-high levels on Tuesday.

BSE Sensex closed at 48,437.78, up 261 points, or 0.54 per cent while the 50-stock NSE Nifty ended at 14,199. Axis Bank shares jumped 6.48% to end as the top Sensex gainer, followed by HDFC, IndusInd Bank, and TCS.

Broader markets outperformed benchmark indices once again. Among Nifty sectoral indices, only Nifty Auto, Nifty Metal and Nifty Realty ended with losses.

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Global markets

Asian shares edged lower on Tuesday amid uncertainty about Senate runoffs in Georgia. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.05 per cent, pulling back from a record high. Australian stocks fell 0.26 per cent. Chinese shares erased early losses and rose 0.52 per cent.

Japanese shares lost 0.34 per cent after a spokesman said the government will reach a decision on a state of emergency for Tokyo and surrounding cities on Thursday to curb coronavirus infections.

In Europe, stocks slipped as losses in defensive sectors offset gains in oil and retail stocks. The pan-European STOXX 600 index was down 0.2 per cent.

(With inputs from Reuters)