The Sensex and the Nifty ended the day higher even as Asian markets rallied following strong overseas closings across the US markets.
The Sensex closed the day at a new record high of 28008 points, while the Nifty rallied 28 points in trade. Leading the set of gainers from the Nifty were stocks like ICICI Bank which hit a new 52-week high.
However, oil marketing companies had a good session in trade with notable winners being HPCL and BPCL.
Larsen and Toubro, Tata Steel, NTPC and Tata Power saw selling pressure. Tata Motors continued to rally for a second straight day on hopes of a strong performance for JLR. Sun Pharma which had rallied sharply on Monday gave up gains and ended the day with losses.
Select mid cap stocks continued to see buying interest. Among these Aurobindo and CESC were the prime gainers.
Meanwhile, markets across Europe saw deep cuts following selling pressure and profit booking at higher levels.