Benchmark stock market indices extended their gains for the fifth consecutive session, overcoming a weak start to close higher on Tuesday.

The Nifty 50 reached a new peak for the second consecutive day, buoyed primarily by strength in financial stocks.

The NSE Nifty 50 index climbed by 0.42 per cent to reach a historic high of 22,215.60 points during the trading session, marking the seventh instance of a record high this year. By the end of the day, the index settled at 22,196.95, reflecting a gain of 0.34 per cent.

Similarly, the S&P BSE Sensex, another prominent index, also experienced positive momentum, rising by 0.48 per cent to close at 73,057.40 points.