Benchmark stock indices on Wednesday rose to new record highs buoyed by hopes of early approvals for COVID-19 vaccines and sustained buying interest from foreign institutional investors (FIIs) in banking and energy stocks.
Analysts, however, urged discretion, cautioning investors that the market may be headed for a phase of consolidation.
The BSE Sensex rose to an intraday peak of 46,164, up 555 points, before settling at a record closing high of 46,104, a gain of 495 points or 1.09%.
Top Sensex gainers included Asian Paints, up 3.37%, Kotak Bank up 2.67%, Axis Bank up 2.19%, HDFC Bank up 2.15% and Infosys up 1.85%.
Similarly, NSE Nifty 50 rose 136.15, or 1.02%, to an all-time high of 13,529.10.
The top gainers included UPL up 4.59%, Asian Paints up 3.65%, IOC up 3.29%, Kotak Bank up 2.66% and HDFC Bank up 2.34%.