The BSE Sensex on Wednesday closed at a record high of 40,469.78, higher than the previous close by 221.55 points. The Sensex had peaked at a record high of 40,606.91 points in morning trade before declining slightly in the afternoon.

The National Stock Exchange Nifty 50, on the other hand, hit a five-month high of 12,002.90 in morning trade. It ended the day slightly lower at 11,966.05.

The Sensex had hit the previous all-time high of 40,434.83 points in early trade on Monday as inflows of foreign funds continued and global cues provided a boost to the market.

The surge in the markets on Wednesday was led by banking stocks, Mint reported. Yes Bank, IndusInd Bank, ICICI Bank, RBL Bank, Axis Bank and HDFC Bank closed between 1% and 2.5%, while shares of Infosys traded over 3% higher intraday.

The top gainers on the Sensex were ICICI Bank, Infosys, HDFC, IndusInd Bank and HDFC Bank. The biggest losers were Bharti Airtel, Reliance, Bajaj Finance, Oil and Natural Gas Corporation, and Maruti Suzuki.

On the Nifty, the stocks which gained the most were Cipla, ICICI Bank, Infosys, HDFC and IndusInd. The stocks which declined the most were Titan Company, Bharti Airtel, ONGC, Maruti Suzuki and Indian Oil Corporation.

The Indian rupee closed the day 28 paise lower against the United States dollar at 70.97.

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