Markets resumed their record-setting spree to hit fresh lifetime highs in opening trade on Friday on sustained buying amid positive global cues.
BSE Sensex, which had lost 21.81 points in the past two sessions, bounced back by 194.97 points, or 0.62 per cent to trade at 31,332.56, breaching its previous record high of 31,255.28 touched on May 31.
All the sectoral indices, led by healthcare, metal, auto, teck and oil & gas were trading in the positive zone with gains up to 0.86 per cent.
The 50-share NSE Nifty recovered by 57.40 points, or 0.59 per cent, to quote at its lifetime high of 9,673.50. The gauge had touched an intra-day high of 9,649.60 on May 31.
Stocks of auto majors including Maruti Suzuki, Mahindra and Mahindra, Hero MotoCorp and Tata Motors were in demand and rose by up to 1.90 per cent on the back of strong May sales data.
Other gainers in the Sensex pack were Adani Ports, NTPC, Cipla, TCS, Sun Pharma, Asian Paints, Bharti Airtel, Lupin, Coal India, ITC Ltd, Dr Reddy's and SBI during initial trade.
Brokers said a firming trend at other Asian markets, which tracked a record close at all three main indices in New York in yesterday's trade following strong private jobs report, kept sentiment upbeat.
In Asia, Hong Kong's Hang Seng gained 0.26 per cent, while Japan's Nikkei surged 1.44 per cent in early trade today.
The US Dow Jones Industrial Average closed 0.65 per cent higher in yesterday's trade.