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Stocks in focus included names like MRF, which closed with gains of over 1%. The stock closed a fresh high above the Rs 100,000 mark for the first time. Other stocks which remained in focus included names like Olectra Greentech, which rose over 7% to hit a fresh 52-week high, and Bombay Burmah Trading Corp closed with gains of over 10% to hit a fresh 52-week high

The consumer sector witnessed good earnings growth in Q1 2021, but the recovery has been patchy, according to a report by BofA Securities. Unlike earlier quarters of weak performance, most discretionary segments rebounded during the period with a year-on-year median revenue growth of 15%, up from 12% in Q4. Meanwhile, steady median revenue growth of 11% was reported in the consumer staples sector, which was led by food and beverage products. On a four-year CAGR basis, revenue trends were "relatively steady" across sub-sectors, but BofA noted that there was a "K-shaped recovery", with premium products outperforming entry-level ones.

The Dow Jones Industrial Average rose 44.75 points, or 0.13%, at the open to 34,111.08. The S&P 500 opened higher by 13.68 points, or 0.32%, at 4,352.61, while the Nasdaq Composite climbed 104.60 points, or 0.78%, to 13,566.53 at the opening bell.

The Nifty Realty index was trading 0.76 per cent up at 509.35.

Tyre manufacturer MRF on Tuesday created a new milestone on Dalal Street as it became the first stock to cross the Rs 1 lakh mark.

Alternative Investment Funds (AIFs) are becoming a popular investment option due to specialized opportunities, higher potential yields, and recent regulatory reforms, according to Alok Saigal of Nuvama Private. The minimum investment threshold of INR 1 crore acts as an entry barrier, attracting sophisticated investors who seek tailored strategies. The AIF category in India has grown tenfold over the last seven years, reaching assets under management of INR 7 lakh crores. These investments typically have a long-term horizon of around ten years, which requires dedicated efforts from advisors to manage investor expectations.

Gold exchange-traded funds (ETFs) in India received a net inflow of INR103 crore ($13.8m) in May, confirming investor interest in the safe-haven investment during uncertain times. This followed a net inflow of INR124 crore in April. Gold ETFs track the domestic physical gold price, are passive investment instruments that are based on gold prices and invest in gold bullion. One gold ETF unit is equal to one gram of gold and is backed by physical gold of high purity. The flexibility of stock investment and attractive market returns have driven investment in the asset class in recent years.

Investors should exercise caution when considering these stocks for investment. Although high RSI values suggest bullish momentum, they also imply the possibility of an imminent correction. Investors should conduct further research and consult with financial advisors before making any investment decisions.

Shares of MNC Honeywell Automation India are second on the list with a price tag going above Rs 41,000. Top stock picker Saurabh Mukherjea-owned Page Industries is the third most highly-priced stock and was trading near Rs 38,000.

Indian equity markets were buoyed by cooling domestic inflation and a pause in rate hikes by the US Federal Reserve, helping lift stocks across sectors. the NSE Nifty closed up 0.62%, or 114 points, at 18,716. Attention is turning to US inflation data and the upcoming FOMC announcement, which could keep interest rates on hold. The rupee hit a two-week high against the dollar, while oil prices recovered some ground.