Mumbai Aug 28 (IANS) The record run continued in the Indian equity market on Tuesday with both the key indices posting intra-day and closing highs as the S&P BSE Sensex inched closer to the 39 000 mark.
Broadly firm global cues on the back of a trade deal between the US and Mexico and healthy buying in automobile stocks lifted the key indices.
Subsequently the BSE Sensex and the NSE Nifty50 touched their respective record intra-day highs of 38 938.91 points and 11 760.20 points before ending the day s trade at record closing levels.
In a major stock-wise development share prices of Reliance Industries on the BSE crossed Rs 1 300 for the first time and touched an all time high of Rs 1 323 during the day.
Index-wise the wider Nifty50 on the National Stock Exchange closed at 11 738.50 points higher by 46.55 points or 0.40 per cent from its previous close of 11 691.95 points.
The benchmark BSE Sensex which had opened at 38 814.76 points closed at 38 896.63 points higher by 202.52 points or 0.52 per cent from its previous close of 38 694.11 points. It touched an intra-day low of 38 760.58 points.
In the broader markets the S&P BSE Mid-cap declined by 0.35 per cent and the S&P BSE small-cap ended 0.36 per cent higher than its previous close. The BSE market breadth was bearish with 1 542 declines and 1 157 advances.
"Gains came on the back of positive global cues after the United States and Mexico agreed to overhaul the North American Free Trade Agreement " said Deepak Jasani Head of Retail Research HDFC Securities.
The development comes as positive news in an environment where trade-war concerns have heightened investment risk across the globe according to Abhijeet Dey Senior Fund Manager-Equities BNP Paribas Mutual Fund.
Major European and Asian markets barring the Shanghai index traded on a positive note.
On the currency front the Indian rupee settled at 70.10 per dollar six paise stronger than its previous close of 70.16 per dollar.
Investment-wise provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 161.05 crore whereas domestic institutional investors sold stocks worth Rs 199.28 crore.
Sector-wise the S&P BSE metal index rose 252.88 points the auto index was up 141.05 points and the FMCG index rose by 40.99 points.
In contrast the S&P BSE consumer durable index declined 179.73 points the oil and gas index fell 110.31 points and auto index ended 112.52 points lower from its previous close.
The top gainers on the Sensex were Vedanta up 2.20 per cent at Rs 230.40; Adani Ports up 2.20 per cent at Rs 387.30; Reliance Industries up 2.06 at Rs 1 318.20; Maruti Suzuki up 1.72 per cent at Rs 9 408; and Axis Bank up 1.62 per cent at Rs 660.60 per share.
The majors losers were Yes Bank down 3.07 per cent at Rs 371.35; State Bank of India down 1.07 per cent at Rs 304.95; Hindustan Uniliver down 1.04 per cent at Rs 1 773; ONGC down 0.94 per cent at Rs 174.55 per share; and Tata Motors (DVR) down 0.89 per cent at Rs 139.20 per share.

--IANS ravi-rrb-rv/vm