Here are 10 things to know about today's session of stock markets:
The Sensex rose 220 points or 0.55 per cent to close at 40,052 and the Nifty 50 index advanced 57 points or 0.49 per cent to settle at 11,844.
During the session, Sensex surged as much as 346 points to touch an intraday high of 40,178.12 and Nifty 50 index climbed as much as 97 points to an intraday high of 11,884.
At today's closing levels, the Sensex is 260 points away from the record high of 40,312.07 touched on June 4.
Fifteen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Information Technology index's 1.5 per cent gain.
S&P BSE Capital Goods, S&P BSE Oil & Gas, S&P BSE Teck, S&P BSE Oil & Gas and S&P BSE FMCG indexes also rose over a per cent each.
On the other hand, S&P BSE Realty index was top loser, down nearly 1 per cent.
GAIL India was top gainer in the Nifty 50 basket of shares, the stock rose over 6 per cent to Rs 133.80. Grasim Industries, Tata Consultancy Services, State Bank of India, ITC, Eicher Motors, Bharti Airtel, Indian Oil, Nestle India, Hindalco and Sun Pharma were also among the gainers.
On the flipside, Bharti Infratel, Yes Bank, Cipla, Maruti Suzuki, Dr Reddy's Labs, Britannia Industries, Coal India, IndusInd Bank and ICICI Bank were among the losers.
"Nifty is likely to hit 13,000-13,500 levels in the near term," AK Prabhakar, head of research at IDBI Capital told NDTV over phone. With interest rates on a downward spiral and real estate investments witnessing a slowdown, investors don't have many choices and are likely to invest in stock markets, Mr Prabhakar said. He added that foreign investment is also likely to increase on the back of money available at lower interest rates in other international markets.
The overall market breadth was marginally positive as 1,384 shares closed higher while 1,119 ended lower on the BSE.