Indian shares posted fresh closing highs on Tuesday after touching life-highs earlier in the session, amid renewed buying in pharmaceuticals and IT stocks. The benchmark BSE index closed up 0.02 percent at 38,285.75. The broader NSE index ended 0.17 percent higher at 11,570.90.
Tech Mahindra Ltd ended up 3 percent and was the top percentage gainer on the NSE index. "Global sentiment is there to some extent... sectors which had not participated earlier are now contributing to Nifty gains," said Siddhartha Khemka, head of retail research at Motilal Oswal Securities.
Indian markets have been on a record-hitting spree this month, driven by select few large-cap stocks. The Nifty Pharma index, which fell nearly 5 percent in the first six months of the year, has risen nearly 7 percent from July till date. It was trading 0.25 percent higher.
Financial stocks fell, with ICICI Bank among the top drags on the NSE index. Bharti Airtel Ltd dropped as much as 2 percent after data showed its user base grew marginally in June. Idea Cellular Ltd gained as it added users.
Airline stocks also rose, with InterGlobe Aviation Ltd and SpiceJet Ltd gaining after strong passenger growth for July. Troubled airline Jet Airways fell 3.5 percent on report of a probe into alleged siphoning of funds by the company.