Benchmark indices ended at record highs, tracking gains in index majors Tata Steel, Bajaj Finance and M&M amid a negative trend in global markets.
Despite opening on a choppy note, Sensex ended 145 points higher at a new peak of 55,582. It touched a record high of 55,680 during the session. Nifty advanced 34 points to a fresh high of 16,563. During the day, it rose to a new peak of 16,589.
Tata Steel was the top Sensex gainer, rallying nearly 4 per cent, followed by Bajaj Finance, M&M, Bajaj Finserv and Reliance Industries.
Maruti, Bajaj Auto, PowerGrid ad UltraTech Cement were among the top losers falling up to 2.43%. Of 30 Sensex stocks, 15 closed higher.
Metal shares led the gains with BSE metal index closing 378 points higher at 21,542. Strong June quarter performance reported by metal companies and steady pricing in international markets aided metal stocks to see sharp rebound.
Energy shares also contributed to the gains with BSE oil and gas index surging 139 points to end at 15,889.
However, BSE mid cap and small cap indices lost 40 points and 149 points, respectively.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "Nifty had broken out on the upside recently following a brief consolidation. Despite a negative start, the index managed to inch higher. However the hourly momentum indicator is showing weakness. It has turned its trajectory down from the overbought zone. Thus the index can step into a minor consolidation before heading higher. The consolidation can take place near 16,450-16,600 post which the Nifty can head towards 16800 in the short term."
Market breadth was negative with 1166 shares ending higher against 2129 falling on BSE.
Market cap of BSE-listed firms rose to a record of Rs 240.34 lakh crore.
Japan's benchmark Nikkei 225 sagged 1.6% to finish at 27,523, while Australia's S&P/ASX 200 slipped 0.6% to 7,582. Hong Kong's Hang Seng dipped 0.8% to 26,181, while the Shanghai Composite inched up less than 0.1% to 3,517.34.
France's CAC 40 fell 0.6% in early trading to 27,523.19, while Germany's DAX slipped 0.3% to 15,929.31. Britain's FTSE 100 declined 0.8% to 7,160.18. US shares were set to drift lower with Dow futures slipping nearly 0.2% to 35,356.00. S&P 500 futures were down 0.2% at 4,455.25.
Meanwhile, international oil benchmark Brent crude fell 1.33 per cent to $69.65 per barrel.
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