New Delhi: Sensex on Tuesday hit a new record high of 41,262 levels while the Nifty-50 index surged 88 points to 12,142 levels. The gains were led by auto, metals and banking stocks.

Maruti was the top gainer in the Sensex pack rising up to 1.85 per cent, followed by Vedanta, ITC, Yes Bank, Infosys, Tata Steel, Bharti Airtel and SBI.

On the other hand, ONGC was the top loser, shedding up to 0.64 per cent. PowerGrid, NTPC and Bajaj Auto were also trading in the red.

Speaking on the current stock market scenario Prakash Pandey, MD & CEO at Plutus Advisors said to Zee Business, “Nifty is trading in the range of 11,970 to 12,190. The bullish or bearish trend will be decided on the breakage of either side of the range. However, on trade optimism coming in from the US-China trade talks, the market is overall bullish and I would advise share market traders to adopt buy on dips strategy.”

Shares of Anil Ambani-led companies rose after UK High Court on Monday dismissed an application for summary judgment by Chinese banks for a $680 million claim against Anil Ambani.