Extending its winning streak to the fourth straight session, equity benchmark Sensex ended 123.07 points higher at a fresh record on Thursday amid gains in index majors Reliance Industries, HDFC Bank and ITC.
After scaling its lifetime peak of 54,717.24 during the day, the 30-share index settled 123.07 points or 0.23 per cent higher at its record high of 54,492.84.
In a similar movement, the broader NSE Nifty rose 35.80 points or 0.22 per cent to an all-time peak of 16,294.60. It touched an intra-day record of 16,349.45.
Bharti Airtel was the top gainer in the Sensex pack, surging around 4 per cent, followed by ITC, Tech Mahindra, Tata Steel and HCL Tech.
On the other hand, SBI, IndusInd Bank, Bajaj Finance and ICICI Bank were among the laggards.
"Domestic benchmark indices extended gains as rebound in IT and metals supported them to scale new highs. Additionally, recovery in FMCG stocks and RIL supported market," said Binod Modi, Head - Strategy at Reliance Securities.
However, it was again not a broad-based rally as profit booking in midcap and smallcap stocks remained visible with Nifty midcap and smallcap indices declining for the third consecutive day, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended in the red, while Tokyo closed with gains.
Equities in Europe were largely trading on a positive note in mid-session deals.
Meanwhile, international oil benchmark Brent crude advanced 0.72 per cent to USD 70.89 per barrel.
Rupee Gains For 4th Straight Session, Settles At 74.17/USD
The rupee settled for the day on a flat note and inched 2 paise higher to close at 74.17 (provisional) against the US currency, marking the fourth straight session of gains on Thursday.
Forex traders said price action remained subdued as investors awaited the Reserve Bank of India's (RBI) policy decision on Friday for further cues.
At the interbank forex market, the rupee opened at 74.15 and hit an intra-day low of 74.28. It finally closed at 74.17, higher by 2 paise over its last close.
On Wednesday, the rupee had settled at 74.19 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.05 per cent to 92.22.
Meanwhile, foreign institutional investors were net buyers in the capital market on Wednesday as they purchased shares worth Rs 2,828.57 crore, as per exchange data.
Gold Tumbles Rs 312; Silver Plunges Rs 1,037
Gold in the national capital on Thursday tumbled Rs 312 to Rs 46,907 per 10 gram amid weak global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,219 per 10 gram.
Silver also plunged Rs 1,037 to Rs 66,128 per kilogram from Rs 67,165 per kilogram in the previous trade.
In the international market, gold was trading lower at USD 1,810 per ounce and silver was flat at USD 25.37 per ounce.
"Gold prices traded weak with spot gold prices at COMEX trading at $1,810 per ounce on Thursday," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.