While Sensex and Nifty closed below record highs amid volatility, analysts remain cautiously optimistic, noting that Indian equities have defied global uncertainty to post strong gains this year.

For the first time, the Sensex has surged past 85,000 points, continuing a record-breaking streak in the Indian stock market, driven by gains in the steel and automotive sectors. Among the top performers in the 30-share Sensex were Tata Steel, JSW Steel, and Powergrid, while Hindustan Unilever, Infosys, and Bajaj Finance were among the laggards.

MUMBAI: Indian equity indices closed flat on Tuesday after hitting a new all-time high due to positive sentiments in the global markets.

The benchmark equity indices bounced back on Tuesday as the Sensex crossed the 85,000 mark for the first time. The Nifty also neared 26,000, amid a surge in Asian markets and strong buying in HDFC Bank.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,990 level, a premium of nearly 75 points from the Nifty futures’ previous close.

After a slow start, Nifty IT gained momentum, rising by 0.7 percent with Tech Mahindra, HCLTech, and TCS leading the rebound.

The 30-stock index hit the 85,044 (record high) mark in early deals today against the previous close of 84,928.

On Monday, Indian stock indices BSE Sensex and Nifty 50 also reached new record levels. The Sensex rose by 384 points, or 0.45%, to end the day at 84,928.61, after hitting a record high of 84,980 during trading.

After a decisive upside breakout on Friday, the market continued its upward journey on Monday and closed near the day high, not before scaling fresh highs