The Sensex and the Nifty closed at yet another record high led by a surge in Bharti Airtel, Hindustan Unilever and HDFC.
The Sensex closed the day at a high of 28,888 points, while the Nifty rallied to another record high of 8,729 points.
Leading the set of losers today was ITC, which slumped following a poor set of results. Other stocks that fell in trade were Jindal Steel and Power, DLF and Hindalco Industries.
Shares in Hindalco and Sesa Sterlite both fell after iron ore prices slumped. Mid cap stocks also saw some buying traction with notable winners being Voltas and Sun TV.
Shares in Navin Flourine's surged 13 per cent after the company's Q3 net profits rose to Rs 14.2 crore versus Rs 6.8 crores.
SpiceJet crashed almost eight per cent in trade after SEBI says that it would exempt promoters of Spicejet from open offer.
Meanwhile, markets across Asia rallied in trade on hopes of a stimulus by the European Central Bank. European markets were trading a tad lower after rallying sharply in the last few trading sessions.