The 50-issue Nifty crossed the 8,400-level for the first time by gaining 44.70 points, or 0.53 per cent, to trade at a lifetime high of 8,407.35, surpassing its previous intra-day high of 8,383.05 touched on November 10.
Brokers said sentiments remained upbeat on continued buying by foreign funds and retail investors amid a series of economic reforms undertaken by the Narendra Modi-led government and strong earnings by blue-chip companies.
Major gainers which supported the Nifty were - ICICI Bank (up 1.15 per cent to Rs 1,705), SBI (up 0.68 per cent to Rs 2,759), Punjab National Bank (up 0.31 per cent to Rs 957), Infosys (up 0.24 per cent to Rs 4,135) and Tata Consultancy Services (up 0.91 per cent to Rs 2,604.30).
In the pharma sector, Dr Reddy jumped 0.55 per cent to Rs 3,437, Lupin gained 0.36 per cent to Rs 1,4335.50 and Cipla was up by 0.20 per cent to Rs 638.30.