The 50-issue Nifty crossed the 8,600 level for the first time by surging 122.80 points, or 1.44 per cent, to trade at an all-time high of 8,617.00, surpassing its previous intra-day high of 8,535.35, touched on November 25.

The BSE Sensex too climbed 383.46 points, or 1.34 percent, to trade at a new record high of 28,822.37, breaking its previous record of 28,541.96, reached on November 24.

Brokers said sentiment was upbeat on sustained capital inflows after global crude oil prices fell to over 4-year lows, which is likely to help the government to tackle both current account and fiscal deficits and also lower subsidy bill.

Besides, a flurry of buying ahead of the September quarter GDP data to be released later in the day and RBI monetary policy review next week also influenced trading sentiment, brokers said.

Meanwhile, the total investor wealth in Indian stock market today hit a record high of Rs 100 trillion, marking a jump of ten times in little over a decade.

Among banking stocks, SBI surged 4.59 percent, Indusind Bank 4.80 percent, Bank of India 5.28 percent, Canara Bank 6.10 percent and ICICI Bank 2.64 percent.

The gainers, which helped the key indices to touch new highs, were Tata Motors, Maruti Suzuki, L&T, Tata Steel, M&M, RIL, Hero MotoCorp, HDFC, HDFC Bank, BHEL, Wipro, Tata Power NTPC, Hindalco and ONGC.

Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 389.73 crores yesterday, as per provisional data.

Globally, Brent crude prices dipped to trade at over four-year low of USD 71.21 per barrel in Asian trade.

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