On Thursday, the Sensex rose almost 150 points in early trade to a new record high of 58,875.78, led by advances in index heavyweights Bharti Airtel, Tata Steel, and HCL Tech.

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In the first session, the wider NSE Nifty soared more than 50 points to a record high.

At 58,875.78, the 30-share Sensex was up 152.58 points, or 0.26 percent. In early trade, the Nifty rose 50.30 points, or 0.29 percent, to 17,569.75.

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With a rise of over 3%, IndusInd Bank led the Sensex pack, followed by Tata Steel, ITC, HCL Tech, SBI, Bajaj Finserv, Kotak Bank, and Bharti Airtel.

HUL, Titan, Asian Paints, and HDFC, on the other hand, were the laggards.

The 30-share index rose 476.11 points, or 0.82 percent, to 58,723.20 in the previous session. The wider NSE Nifty rose 139.45 points, or 0.80 percent, to 17,519.45, its new closing high.

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While in other Asian markets, Tokyo, Shanghai, Seoul, and Hong Kong’s stock exchanges were all down in mid-session trade.

In the overnight session, US stocks concluded with gains.

The Union Cabinet approved a big-bang relief package for the stressed telecom sector on Wednesday, including a four-year break from paying statutory dues, permission to share scarce airwaves, a change in the definition of revenue on which levies are paid, and 100 percent foreign investment via the automatic route.

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In addition, the Cabinet approved a revised Rs 25,938 crore production-linked incentive (PLI) program for the auto and auto components sectors in order to boost local manufacturing capabilities.

According to provisional exchange statistics, foreign institutional investors (FIIs) were net purchasers in the capital market on Wednesday, purchasing shares worth Rs 232.84 crore.

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Meanwhile, Brent crude, the international oil standard, climbed 0.48 percent to USD 75.82 per barrel.

Rupee opens on a flat note, slips 1 paisa to 73.51 against the US dollar in early trade.