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MUMBAI: Continuing their record-breaking spree, markets on Tuesday hit new highs with the BSE Sensex scaling another peak of 29,456.63 and the NSE Nifty soared to 8,878.20 in opening trade on sustained capital inflows.

Besides, markets were buoyed by optimism over upcoming Budget and quarterly earnings amidst positive domestic factors and mixed global cues.

The benchmark BSE Sensex climbed by 177.79 points, or 0.60 per cent, to trade at a new high of 29,456.63, breaking its previous record of 29,408.73 reached on Friday.

Stocks of capital goods, power, consumer durables, auto, FMCG, banking, infrastructure and realty sectors led the rally and rose up to 2.11 per cent.

The benchmark index had gained 1,932.02 points in the previous seven sessions.

The National Stock Exchange index Nifty spurted by 42.60 points, or 0.48 per cent, to hit a new peak of 8,878.20, surpassing its previous intra-day high of 8,866.40 touched on Friday.

Brokers said sentiments remained upbeat on sustained capital inflows amidst optimism over upcoming Budget and corporate earnings amidst Prime Minister Narendra Modi promising an open business environment and predictable tax regime in his meeting on Monday with US President Barack Obama.

After being in the slow lane for three long years, the Indian auto industry is looking at better sales numbers, encouraged by a positive forecast for the upcoming fiscal.

The latest forecast of the automobile industry -- drawn from all stakeholders and institutional players -- shows all the segments posting growth in FY16, aided largely by falling fuel prices, softening interest rates as well as economy that's trying to shrug off its inertia.

"The recent cut in interest rate, oil pricing coupled with waning cost of ownership are currently supporting the overall momentum. For 2015, we expect the light vehicle -- passenger cars and light trucks -- production to grow at 6%, while medium and heavy commercial vehicles are likely to bounce back at 12% this year," said Amit Kaushik - principal analyst at IHS Automotive, one of the world's largest forecasting agency. "Post budgetary reforms will further support the overall momentum for the industry in the times ahead."

Automobile industry stakeholders also point to the recovery posted in the past few months, with the momentum spilling into the new fiscal. "The industry benefitted from the 4-6% excise reduction in 2014. Rationalisation of taxes and incentives to increase disposable incomes would help stimulate demand in the new fiscal and carry the growth momentum further," said Hyundai Motor India senior vice president (marketing & sales) Rakesh Srivastava.

The consumer-oriented passenger car segment is likely to get a boost from new launches and revival of the urban markets that generate more than 65% of the total new sales in the Indian market.

The demand for trucks has also increased, thanks to higher demand coming from the mining sector and government's renewed thrust on infrastructure.

Indian stock exchange may refer to:

BSE: Bombay Stock Exchange
NSE: National Stock Exchange of India
CSE: Calcutta Stock Exchange

Bombay Stock Exchange (BSE) is an Indian stock exchange located in Mumbai, Maharashtra, India.

Hours of operation:
Pre-open Trading Session 09:00 - 09:15
Trading Session 09:15 - 15:30
Position Transfer Session 17:05 - 17:15
Closing Session 17:05 - 17:55
Option Exercise Session 17:07
The hours of operation for the BSE quoted above are stated in terms of the local time (GMT + 5:30).

The National Stock Exchange of India Limited (NSE) is the leading stock exchange of India located at Mumbai.

The market timings of the equities segment are:

(1) Pre-open session
Order entry & modification Open: 09:00 hrs
Order entry & modification Close: 09:08 hrs*
*with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.

(2) Regular trading session
Normal/Retail Debt/Limited Physical Market Open: 09:15 hrs
Normal/Retail Debt/Limited Physical Market Close: 15:30 hrs.

Calcutta Stock Exchange, also abbreviated to CSE, located at the Lyons Range, Kolkata, India, is the oldest stock exchange in South Asia.

Övriga:
Ludhiana Stock Exchange Association Ludhiana
Madhya Pradesh Stock Exchange Indore
Madras Stock Exchange Madras (Chennai)
Mangalore Stock Exchange Mangalore
MCX Stock Exchange Mumbai
Meerut Stock Exchange Meerut
OTC Exchange of India Mumbai
Pune Stock Exchange Pune
Saurashtra Kutch Stock Exchange Rajkot
United Stock Exchange of India
UP Stock Exchange Kanpur
Vadodara Stock Exchange