Equity benchmark Sensex surged 222 points to end at its new closing record on Thursday, propelled by gains in index major Reliance Industries amid positive global cues.
After trading on a choppy note, the 30-share BSE index settled 222.13 points or 0.43% higher at 51,531.52.
In similar movement, the broader NSE Nifty advanced 66.80 points or 0.44% to its all-time high of 15,173.30.
Reliance Industries was the top gainer in the Sensex pack, rallying over 4%, followed by Sun Pharma, PowerGrid, Bajaj Finance, Nestle India and HCL Tech.
On the other hand, Titan, L&T, ONGC, HDFC Bank and ITC were among the laggards.
Domestic equities traded in a range bound manner, while benchmark indices managed to record modest gains towards the end of the session mainly supported by sharp up-move in Reliance Industries, said Binod Modi, Head Strategy at Reliance Securities.
"Market looks to be fatigued at current levels after seeing sharp rally post the announcement of union budget," he noted.
Most sectoral indices traded sideways and a pullback was seen in PSU Banks. Notably, volatility index softened sharply.
Elsewhere in Asia, bourses in China, Japan and South Korea were closed for holidays.
Stock exchanges in Europe were largely trading on a positive note in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.67% lower at USD 61.06 per barrel.