As the Bihar election results pointed towards a saffron surge, the markets continued trading at record high levels for the second consecutive day on Tuesday.

Sensex crosses 43,000 points benchmark for the first time ever as its gained more than 500 points and Nifty hit 12,600

Also causing a cheer in the market is Pfizer's claim that its experimental Covid-19 vaccine was more than 90 per cent effective based on initial trial results.

According to CNBC-TV18, the Indian market traded higher on Tuesday afternoon led by gains in financial and banking stocks amid positive global cues on developments over COVID-19 vaccine. 

IT and pharma shares were trading under pressure. Gains in index heavyweights such as IndusInd Bank, Bajaj Finance, ICICI Bank and SBI lifted Nifty above the 12,600 level intraday.

"The vaccine news is a big relief for markets and investors are hoping that the economic recovery will take place sooner," Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors, told NDTV profit.

"However, the next six months will be crucial as we see more developments on the vaccine," he added.