The markets closed higher for the third consecutive day after hitting another record on Monday with a global rally adding to the overall optimism and confidence among market investors.
The BSE Sensex was up 166.96 points or 0.29% at 58,296.91. The Nifty gained 54.20 points or 0.31%, closing at 17,377.80.
Stocks of other markets in the Asia-Pacific region were higher too, with Japan and China logging the best gains. The Nikkei in Japan and Shanghai in China were up 1-2%. US markets were closed on Monday on account of the Labor Day holiday.
Ajit Mishra, vice-president, research, Religare Broking Ltd, said the markets are steadily inching higher, tracking favourable global markets and supportive domestic sentiment. Mishra feels there may be some consolidation ahead.
Hopes of continued economic support by the US Federal Reserve due to weak US jobs data and talks of more stimulus in Japan and China boosted global markets.