Equity benchmark indices were on an upward swing since early hours on Monday amid global cues and reports of some progress in the US-China trade dispute.
At 2:05 pm, the BSE S&P Sensex was up by 477 points to hit its all time high at 40,837 while the Nifty 50 surged by 143 points to reclaim the 12,000 mark. It is currently trading at 12,057 mark. All sectoral indices at the Bombay Stock Exchange were trading in the green.
Bharti Airtel gained by 5.51per cent, Tata Steel was up by 4.75 per cent, Vedanta by 2.71 per cent and IndusInd Bank by 2.76 per cent.
Realty major DLF Ltd added gains of 2.9 per cent at Rs 222.80 per share while Oberoi Realty edged higher by 0.8 per cent. Index heavyweight Reliance Industries traded 1.1 per cent higher at Rs 1,563.65 per share.
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However, those which lost were Zee Entertainment, Bharat Petroleum Corporation, HCL Technologies, Wipro and Yes Bank.
Meanwhile, Asian shares made guarded gains as investors hoped for some progress in the US-China trade dispute.
MSCI's broadest index of Asia Pacific shares outside Japan bounced by 0.8 per cent while Japan's Nikkei firmed by 0.9 per cent while Shanghai blue chips rose by 0.4 per cent.
