BENGALURU: India’s benchmark Nifty ended higher on Tuesday, reversing course from a subdued start, led by energy stocks after the federal government announced a windfall tax cut.

The NSE Nifty 50 index gained 0.16% to 21,453.10, while the S&P BSE Sensex settled 0.17% higher at 71,437.19.

Both the Nifty and Sensex hit record highs for the tenth session out of the 13 sessions of trade in December so far.

Energy, the third-heaviest sectoral index on the benchmark, rose 1.58%, after the government cut a windfall tax on petroleum crude and diesel and on steady power demand. Coal India, NTPC were among the top Nifty 50 gainers. Oil & Natural Gas Corporation, Oil India , Mangalore Refinery and Petrochemicals and Chennai Petroleum Corporation climbed between 0.75% and 6.5%.

Nestle India added 4.66% to a record high after fixing a record date for its stock split. The stock also powered the consumer index 1.41% higher.

The information technology index lost about 1%, snapping a recent rally. The index has gained 8.5% in December so far, including Tuesday’s losses.

The Nifty has risen 6.56% in December, and is on course for its best month since July 2022.