Markets on Tuesday shot up to a new 15-month high, with the benchmark Sensex adding a hefty over 240 points and the Nifty futures crossing 4,900-level on reports of higher advance tax payments by some corporate.
After snapping a six-day rally on Monday, the bellwether index staged a sharp come-back rally to close higher by 240.26 points at 16,454.45, a level last seen on June 2 last year.
Similarly, the wide-based National Stock Exchange index Nifty shot up by 83.50 points to 4,892.10 and almost touched the 4,900-level at 4,899.45 during intra-day. The Nifty Futures for September contract crossed 4,900-point level and closed 4,908.90 in the derivative segment.
Marketmen said hectic buying were seen after reports that advance tax payments by some big corporate were higher. Market leader Reliance Industries shot up by Rs 33.20 to Rs 2,180.15. The second heaviest Infosys added Rs 19.50 to Rs 2,270.05. Leading private lender ICICI Bank rose by Rs 16.75 to Rs 842.30. The three scrip carry nearly 30 per cent weight on Sensex.
Among the sectoral indices, realty, metal, bank and auto led the rally and closed with handsome gains.