Pvt banks propel Sensex, Nifty to life-time highs; Infy, Tata Motors fall

BSE benchmark index gained 370 points to 39,276 while the NSE index climbed 97 points to 11,787

The benchmark stock market indices hit all-time highs on Tuesday led by gains in heavyweights like ICICI Bank and HDFC Bank. Supportive global markets and better monsoon forecasts by the India Meteorological Department helped with the risk-on sentiment.

Gaining for a fourth straight day, the 30-share Sensex rose 370 points, or 0.95 per cent, to end at 39,276, surpassing its previous high touched earlier this month. The Nifty50 index gained 97 points, or 0.83 per cent, to end at 11,787, going past its previous high of 11,739 touched on August 28 last year.

Banking stocks led the advances after Goldman Sachs said