Sensex closes all-time highs of 38,920.14; Nifty settles at 11,738.50 points on global cues

The Indian equity market rose to record highs on Tuesday,  taking cues from global markets following the United States and Mexico agreed to overhaul the North American Free Trade Agreement. Aided by energy and IT shares, the BSE benchmark index settled at 38,896.63 points, up 202.52 points or 0.52 percent.  Reliance Industries Ltd rose over 2 percent to a life high of Rs  1,323, while Coal India stock rose more than 2.25 percent to its highest in three months. Metal, auto and IT stocks saw healthy buying, as factors which pushed the key indices higher.
 
NTPC and Coal India shares too rose over 1 percent during the day.  Hindalco, Vedanta Ltd, Reliance Industries, Tata Steel, and UltraTech Cement propped the Nifty 50 index to stay in the positive territory.  During the intra-day trade Infosys, Tata Consultancy Services (TCS), Infibeam, KPIT and HCL Tech traded higher.
 
BSE Sensex touched the day's high of 38,920.14 points after opening at 38814.76 points. The index closed yesterday at 38,694.11 points.  According to experts, healthy corporate earnings in the first quarter is also propped up the market to reach this high.  NSE Nifty 50 ended the day at 11,738.50  points, up 0.40 percent. Benchmark Nifty index was trading at 11,738.10 points at 2.20 pm. However, during the afternoon trade some negative trends were seen in the Nifty index, as 20 stocks advanced against the 30 stocks that declined. 

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IT and Pharma stocks are doing well on strong dollar, which gained against the Yen after the US-Mexico deal boosted appetite for riskier assets. GAIL, YES Bank, Hindustan Petroleum, Eicher Motors, SBI were the laggards in the market.
 
MSCI`s Asia-Pacific shares outside Japan climbing 0.6 percent for a second straight day, according to a Reuters report.