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"Apart from this the strong FII inflow and the positive macro data have been supporting the sentiments"
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Sensex jumped 331 points or 0.55% to 61,068. Likewise, the Nifty 50 was quoting at 18,285 higher by 123 points or 0.68%.
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Wipro, Infosys, Mindtree, Hero Motocorp, KEC International, Westlife Development are some of the stocks that buzz in today's trade.
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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 78 points at the opening bell.
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Shivangi Sarda of Motilal Oswal Financial Services is bullish on Tata Steel with a price target of Rs 1,422 per share.
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The Nifty rose 169.80 points, or 0.94 percent, to 18,161.75, a record closing high.
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"Earnings are supporting the market momentum. The optimism on recovery from the pandemic is key and we are looking at sector rotation."
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The scrip traded 15% up at Rs 483.90 in the early trade on Wednesday, while the benchmark BSE Sensex was up 241 points, or 0.40%, at 60,525.
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"The market momentum continues to surprise us continuously and perhaps the Nifty could touch even 20,000 at this pace by Diwali"
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Infosys, Mindtree and Wipro will announce their quarterly results today.