Market extended gains on the third straight session on Monday to hit fresh record highs. Nifty crossed 25,950 amid buying across the sectors barring Information Technology stocks.

Sensex hit its fresh record high of 84,980.53, while the Nifty 50 made a fresh peak of 25,956 during the session.

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Sensex closed 384 points, or 0.45%, higher at 84,928.61, while the Nifty 50 ended 148 points, or 0.57%, up at 25,939.05.

Mahindra and Mahindra, SBI, Bharti Airtel, Kotak Mahindra Bank, HUL and UltraTech Cement ended as the top gainers in the Sensex while ICICI Bank, IndusInd Bank, Asian Paints, Tech Mahindra, HCL Tech and Infosys ended as the top losers.

On Nifty, the top gainers were M&M, ONGC, Bajaj Auto, SBI Life Insurance, Hero MotoCorp, while losers were Eicher Motors, Divis Labs, ICICI Bank, Tech Mahindra and IndusInd Bank.

Among the sectoral indices, all ended higher barring Nifty IT down by 0.51%. Nifty PSU Bank was up 3.41%, Realty by 2.23%, Oil & Gas by 1.89%, Auto by 1.56% and Consumer Durables by 1.18%.

The Nifty Bank index rose 0.58%, while the Private Bank index climbed 0.22%.

BSE midcap index and smallcap indices were up 0.7% each.

The mid and smallcap indices on the BSE also saw significant gains, rising by 0.73% each. The across-the-board buying shot up the cumulative market capitalisation of the firms listed on the BSE to Rs 476 lakh crore from nearly Rs 472 lakh crore in the previous session.

Notably, around 350 stocks touched their 52-high on the BSE. These included Aditya Birla Fashion, Amber Enterprises, Apollo Hospitals, Asahi India, Bajaj Auto, Bajaj Finserv, Bharti Airtel, Bikaji Foods, Blue Star, Divis Labs, Hero MotoCorp, HUL, Kalyan Jeweller, Kotak Mahindra Bank, Lloyds Metals, M&M, Mankind Pharma, Max Financial, Shyam Metalics, Sun Pharma, Suven Pharma, United Spirits, V-Mart Retail, among others.

Adani Total Gas shares surged over 5% after the company successfully secured a financing package of $375 million from global lenders.

Shares of SpiceJet zoomed over 5% after the airline raised Rs 3,000 crore by selling shares to qualified institutional buyers (QIBs).

Fusion Micro Finance shares crashed over 10% after Investec downgraded the stock to sell from hold and slashed the target price to Rs 300 apiece from Rs 500.

Shares of Vodafone Idea soared 4% after the telecom operator inked a mega $3.6 billion deal with Nokia, Ericsson, and Samsung for the supply network equipment over three years.