The Bombay Stock Exchange Sensex on Tuesday ended at a new all-time high of 31,747.09, 31.45 points up from Monday’s close. Earlier in the morning trade, it had hit 31,852.80 points. The National Stock Exchange Nifty gained 15 points to also close at a new high of 9,786.05, after touching 9,821.60 in the afternoon.

The positive trend in the market is the result of expectations that key macro data, such as inflation and industrial production, to be released on Wednesday will be encouraging, reported Mint. Uninterrupted inflows of foreign capital also caused the Sensex to surge on Tuesday.

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At the BSE, shares of Tata Motors surged 2.28%. The four other top gainers were Bajat Auto, NTPC, Infosys and Mahindra & Mahindra. At the NSE, the top gainers on Tuesday were Baja Auto, Bharat Petroleum, Hindalco and Infosys.

Stocks of sugar companies surged after the government on Monday raised the import duty to 50% from 40%. Shree Renuka Sugars, Dhampur Sugar, Bajaj Hindusthan and Balrampur Chini were the biggest gainers in the sector.

The biggest losers on the Sensex were Bharti Airtel, Cipla, Wipro and Coal India. The five stocks that declined the most on the NSE index on Tuesday were Airtel, Bank of Baroda, Cipla and Wipro.

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Asian markets showed a firm positive trend on Tuesday, with Japan’s Nikkei, Taiwan TSEC 50 Index and the Australia ASX all closing in the green, reported CNN Money. The Hong Kong Hang Seng was trading 409 points higher at 25,909. Only the Shanghai SE Composite Index declined slightly to close 9.59 points down at 3,203.04.

Financial Times reported that the United States Federal Reserve Chairman Janet Yellen’s upcoming testimony on monetary policy to the US Congress on Wednesday was one of the reasons for the market cheer.

Meanwhile, the rupee traded two paise down against the dollar at 64.65 on Tuesday.