Items adopted by a user over time are indicative of the underlying preferences. We are concerned with learning such preferences from observed sequences of adoptions for recommendation. As multiple items are commonly adopted concurrently, e.g., a basket of grocery items or a sitting of media consumption, we deal with a sequence of baskets as input, and seek to recommend the next basket. Intuitively, a basket tends to contain groups of related items that support particular needs. Instead of recommending items independently for the next basket, we hypothesize that incorporating information on pairwise correlations among items would help to arrive at more coherent basket recommendations. Towards this objective, we develop a hierarchical network architecture codenamed Beacon to model basket sequences. Each basket is encoded taking into account the relative importance of items and correlations among item pairs. This encoding is utilized to infer sequential associations along the basket sequence. Extensive experiments on three public real-life datasets showcase the effectiveness of our approach for the next-basket recommendation problem.