The barometer index, the S&P BSE Sensex, was gained 712.44 points or 0.92% to 78,053.52. The Nifty 50 index rallied 183.45 points or 0.78% to 23,721.30.

The Sensex and Nifty clocked an all-time high of 78,164.71 and 23,754.15, respectively in late trade. Further, the Nifty Bank hit an all-time high of 52,746.50 in late trade.

In the broader market, the S&P BSE Mid-Cap index fell 0.26% and the S&P BSE Small-Cap index shed 0.03%. The market breadth was negative.

The S&P BSE Small-Cap index hit an all-time high at 52,542.41.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.18% to 14.13.

Among the sectoral indices, the Nifty Financial Services index (up 1.90%), the Nifty Bank index (up 1.74%) and the Nifty Private Bank index (up 1.70%) outperformed the Nifty 50 index.

Meanwhile, the Nifty Realty index (down 1.75%), the Nifty Metal index (down 0.70%) and the Nifty Media (up 0.50%) underperformed the Nifty 50 index.

Economy:

India's telecom spectrum auction starts today (June 25th) offering airwaves worth Rs 96,318 crore. The government reportedly aims for Rs 10,000 crore. This auction includes frequencies from 800 MHz to 26 GHz bands and offers 20-year validity with options for sharing or surrendering spectrum after 10 years.

Numbers to Track:

The yield on India's 10-year benchmark federal rose 0.16% to 6.982 as compared with previous close 6.971.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.4350, compared with its close of 83.4775 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement added 0.08% to Rs 71,860.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 105.52.

The United States 10-year bond yield fell 0.50% to 4.228.

In the commodities market, Brent crude for August 2024 settlement lost 49 cents or 0.57% to $85.52 a barrel.

Global Markets:

Most European shares declined while Asian shares ended higher on Tuesday, with investor eyes set on Friday's crucial U.S. inflation data. The upcoming U.S. presidential debate on Thursday and the first French election round this weekend are also adding to the cautious sentiment, as investors weigh potential political impacts on their holdings.

Wall Street closed with mixed results overnight. The Nasdaq suffered a significant drop of over 1%, led by a 7% plunge in AI leader Nvidia. This decline suggests investors are shifting out of technology stocks for now. However, the Dow Jones bucked the trend, climbing 0.7% to reach a one-month high. The S&P 500 ended slightly lower, down 0.31%.