FX.co ★ Sensex, Nifty End Higher As Oil Prices Retreat

Indian shares continued their upward trajectory on Tuesday, driven by positive foreign fund inflows and a decline in oil prices.

Crude oil prices extended their recent decline after a hurricane hit a major U.S. oil-producing region in Texas, causing less damage than anticipated and alleviating concerns over supply disruptions.

The benchmark 30-share BSE Sensex climbed 391 points, or 0.49%, to 80,351, buoyed by strong performance in blue-chip stocks.

The broader NSE Nifty reached a new high of 24,443 before closing up 112 points, or 0.46%, at 24,433.

The BSE mid-cap and small-cap indices also posted gains, ending the day up 0.36% and 0.22%, respectively.

Noteworthy among the gainers, Maruti Suzuki India shares surged 6.5% following the Uttar Pradesh government's announcement of a complete waiver of registration tax on strong hybrid cars.

Hindalco, Titan Company, Mahindra & Mahindra, and Divis Laboratories all gained approximately 2%, while heavyweight Reliance Industries saw a decline of about 1%.

Global market signals were mixed as investors awaited key U.S. economic data on consumer and producer price inflation, as well as Federal Reserve Chair Jerome Powell's congressional testimony, to gauge the U.S. central bank's policy direction.

Powell is scheduled to address Congress today and tomorrow. Meanwhile, the U.S. CPI report is set to be released on Thursday and is projected to show a decrease in inflation to 3.1% in June from 3.3% in May. The producer price inflation report is anticipated on Friday.