The Indian equity benchmark indices ended the day higher, with both indices notching record gains, tracking positive cues from the global markets.

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The S&P BSE Sensex closed at 55,959, over 403 points higher and the Nifty50 index closed over 128 points higher at 16,624. The broader markets participated in the rally with mid-caps and small-caps closing outperforming benchmarks and closing nearly 2 percent higher.

Market breadth favoured advances in the session, with one stock falling for every three stocks that rose. The advance-decline ratio stands at 3:1.

On the Nifty 50 index, Bajaj Finserv, Hindalco, Adani Ports, Tech Mahindra, and Bajaj Finance were the top gainers, with Bajaj Finserv gaining over 8 percent. Each of these scrips ended nearly 4-8 percent higher today. However, leading the losers was Nestle India that lost 1.5 percent. It was followed by Brittania, HDFC, Asian Paints, and HCL Tech; with each scrip losing over 1 percent.

On the sectoral front, Nifty Metals led the rally, surging as much as 3 percent. It was followed by Nifty Realty, the index closing almost 3 percent higher and Nifty Media, the index rising over 2 percent. Nifty Oil & Gas also closed in the green of the day, as it rose 1.5 percent. Nifty Pharma, Healthcare, and financial indices also closing over a percent higher. On the contrary, Nifty IT and Nifty FMCG witnessed some selling today, with the indexes closing 0.25 and 0.89 percent, respectively.

Globally, equities, bond yields, and oil all rose Tuesday, spurred by a bounce in China's tech sector, positive US vaccination news, and easing worries about the US tapering stimulus.

Stocks in Asia, Europe, and Wall Street futures notched gains, setting them on a recovery course after Chinese regulatory worries triggered a sell-off last week. MSCI's broadest index of Asia-Pacific shares outside Japan rallied 1.7 percent while in Europe, the pan-European STOXX 600 added 0.2 percent to the previous session's gains. Nasdaq and S&P 500 futures rose 0.3 percent and 0.5 percent respectively.

In commodities markets, Brent crude oil futures rose over 1 percent to $69.50 a barrel, as a weaker dollar and strong equities boosted crude following seven sessions of declines. Gold prices have also eased but stayed slightly above the key psychological level of $1,800 per ounce.

With inputs from Reuters

(Edited by : Yashi Gupta)