NSE benchmark Nifty surged by 105 points to settle at 10,440, registering a fresh record closing high on strong buying in PSU, private banks, realty and financial service.
As per the latest World Bank report, India jumped 30 notches in ease of doing business ranking, resulting in buoyed investor sentiment.
Globally, European stocks edged higher as investors focussed on earnings reports. Asian shares rose mirroring a positive close in the US market overnight.
The NSE Nifty opened higher at 10,390.35 and hit an intraday all time high at 10,451.65, later eased to 10,383.05 before closing at 10,440.50, a rise of 105.20 points, or 1.02 per cent, from its last close.
It saw an intra-day movement of about 68.60 points.
Broader markets underperformed the bourses as the Nifty Midcap and Small cap indices rose 0.55 per cent and 0.57 per cent, respectively.
On the sectoral front, PSU banks jumped 3.64 per cent, realty 2.59 per cent, finance service 1.97 per cent, metal 1.80 per cent, banks 1.88 per cent, private banks 1.76 per cent, FMCG 1.54 per cent, Infra 0.83 per cent and energy 0.51 per cent.
However, pharma fell by 0.46 per cent, media 0.50 per cent, IT 0.19 per cent and auto 0.06 per cent.
Major index gainers were Bharti Airtel, SBIN, ICICI Bank, Vedanta, Hindalco, HDFC, Hind Unilever and Axis Bank.
Losers included Eicher Motors, InfraTel, Dr Reddy, UPL, HclTech, TechM, HindPetro and Zeel.
The market breadth, indicating the overall health of the market, was in favour of gainers. On the NSE, 964 stocks advanced, 794 declined and 65 stock remained unchanged.
Total securities that hit their price bands were 185.
Turnover in the cash segment rose to Rs 37,910.59 crore from Rs 35,110.14 crore as on Tuesday.
A total of 18,674.90 lakh shares changed hands in 12,039,266 trades. The market capitalisation of listed firms on NSE stood at Rs 1,43,19,309.24 crore.
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