The sentiments on the dalal street were high on Tuesday, as geopolitical tension between the US and Iran notches down and the expectations of signing phase-one of the US-China trade deal later this week rises.

The Nifty rallied over 15 per cent at 12.59 pm to hit the 12,333 mark, up by 3.45 points. Sensex on the other hand, gained 15.94 points to reach 41,875.63 at 01.13 pm.

Earlier in the day, Sensex recorded all-time high of 41,903.36, while the broader Nifty edged higher to 12,349.75, also a new high. It opened at 41,883.09 and advanced to touch the intra-day high of 41,903.36 and a low of 41,770.90.

The domestic market expects more sops in the Union Budget 2020, which is scheduled to be presented on February 01.

The top gainers on the NSE was ruled by Vedanta, followed by Britannia Industries, Zee entertainment and hero MotorCorp with gains starting from 2.46 to 1.36 per cent. Whereas the drags were led by Yes bank (-9.26 per cent), Oil & natural Gas Corpn (ONGC) (-1.04 per cent), Kotak Mahindra Bank (0.96 per cent).

On the other hand, ITC, Hero MotoCorp, Nestle India and Hindustan Unilever were among the top gainers on the BSE, with their profit percentages at 1.38, 1.36, 1.31 and 0.93 per cent respectively. ONGC (-1.08 per cent), Kotak Mahindra Bank (-1.07 per cent) and SBI (-1.06 per cent) were the top three laggards on the BSE.

(With input from agencies)