Market benchmark Nifty surged past the 9,300-level for the first time on Tuesday, fuelled by a rally in Reliance Industries and other bluechips on upbeat earnings.
Positive Asian cues and a higher opening in European markets also added to the momentum.
The 50-share National Stock Exchange Nifty soared 82.45 points, or 0.89 percent, to quote at its new lifetime high of 9,300.40. It broke the previous record of 9,273.90 reached on 5 April.
The Bombay Stock Exchange 30-share Sensex was quoting at 29,926.96 at 14:30 hrs, up 271.12 points, or 0.91 percent.
The rupee appreciating to 64.21 against the dollar (intra-day) at the forex market too boosted sentiments.
Shares of Reliance Industries surged 1.21 percent to Rs 1,433.50 after the company yesterday reported a record fourth quarter net profit of Rs 8,046 crore.
Other major gainers that supported the key indices were M&M, Bharti Airtel, Hero MotoCorp, Asian Paints, Power Grid, ITC Ltd, HUL, ICICI Bank and HDFC Ltd, rising by up to 3.36 per cent.
Globally, Japan's Nikkei surged 1.90 percent, Hong Kong's Hang Seng rose 1.31 percent, while Shanghai Composite Index gained 0.16 percent.
In Europe, London's FTSE rose 0.22 percent, Paris CAC 40 gained 0.18 percent and Frankfurt's DAX inched up 0.03 percent in early deals.
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