The Sensex and Nifty scaled fresh peaks in trade today on gains in large cap stocks such as L&T, Tata Motors, ONGC and Reliance Industries. In global markets too, stocks rose after investors welcomed signs of progress in resolving the trade dispute between US and China.
While the Sensex touched an all-time high of 38,340 breaching the previous peak of 38,076 reached on August 9, Nifty crossed the 11,500 mark for the first time ever to hit a new high of 11,565 level. Nifty's previous record high stood at 11,495 points reached on August 9.
Later, the indices closed at fresh record highs. While the Sensex closed 330 points or 0.87% higher to 38,278 level, the Nifty ended the day at fresh high of 11,551 level, rising 0.715 or 81 points.
Top Sensex gainers were L&T (6.74%), Tata Motors (4.74%), ONGC (3.34%), Vedanta (3.16%) and Tata Steel (3.24%).
Infosys (3.22%) was the top Sensex loser after the firm announced last week its CFO MD Ranganath had resigned from the company.
Other losers were Maruti (0.79%) and ICICI Bank (0.50%).
Besides, fresh inflows by foreign funds and persistent buying by domestic institutional investors (DIIs) and rupee recovery also boosted investor sentiment, brokers said.
Market breadth was positive with 1475 stocks rising compared to 1267 falling on the BSE. The midcap index led the rise in market with 1.05 percent or 170 points rally to 16,476 level.
Among 19 sectoral indices, BSE auto (1%), Capital goods (3.74%), metal (3.32%) and oil and gas indices (1.30 percent) were the top gainers in trade today.