The Indian stock market benchmarks surged to record highs on Tuesday on optimism of faster pace of economic recovery as various macro-economic indicators indicated towards demand revival in the economy. At close, The BSE Sensex climbed with a gain of 873 points, or 1.65 percent, at 53,823.36, while the NSE Nifty settled at 16,130.75, up 246 points, or 1.55 percent.

Titan, HDFC, IndusInd Bank, Nestle, UltraTech, SBI, HUL and Axis Bank were the biggest gainers among blue-chip stocks. On the other hand, JSW Steel, Shree Cement and Bajaj Auto were among the six laggards the Nifty50 universe.

Strong Buying was visible across sectoral indices of the NSE.   Nifty FMCG index's nearly 2 percent gain. Nifty Auto, Bank, Financial Services, IT, Pharma, PSU Bank indices also rose 1.2-1.5 percent. Mid-Cap and small-cap shares underperformed their larger peers as Nifty Midcap 100 index ended unchanged while Nifty Smallcap 100 index slipped 0.2 percent.

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