Sensex and Nifty scale fresh peaks; financials, IT stocks shine

Equity benchmark Sensex defied gravity for the 10th straight session to close at a fresh lifetime high on Tuesday as robust buying in financial and IT stocks offset lacklustre global cues.

Persistent foreign fund inflows supported the benchmarks, though a weakening rupee capped the gains, traders said.

Despite opening on a negative note, the 30-share BSE index pared all losses and staged a smart recovery to end 260.98 points or 0.54 per cent higher at 48,437.78. It touched an all-time high of 48,486.24 during the day.

The Sensex has closed at record highs for seven sessions on the trot.