The stock market rallied for the third consecutive session on Thursday supported by Information Technology and energy names.

Sensex opened at a record high of 77,543.22, and closed at 77,337.59, up 36.45 points, or 0.05 per cent.

The index created a fresh all-time high of 77,851.63, as investors piled onto banking stocks, and touched a low of 76,954.87.

Nifty 50 opened at a record high of 23,629.85 closing at 23,516, down 41.90 points, or 0.18 per cent.

It touched another record high at 23,664.00, before falling into the red as investors booked profit.

BSE Sensex and Nifty 50 indices hit new record highs of 79,396.03 and 24,087.45, respectively while the Nifty Bank index also hit a fresh record high of 53,180.75.

Among the sectors, the bank and financial services index had surged ahead, led by a rally in private sector banking stocks, and the IT index was also trading in the green.

Heavyweight indices like consumer durables, pharma, health, oil & gas, metal, FMCG, and auto were among the top sectoral losers and were trading in the red.

The broader market was in the red, with the BSE SmallCap index down 0.53 per cent and the BSE MidCap down 0.85 per cent.

Shares of the Reliance Industries after closing at Rs 2,883 on Monday, the Sensex heavyweight has managed to end higher for the past two sessions.

The opening of reliance share price today was at Rs 3027.50 but it quickly gained momentum and reached an intraday high of Rs 3,075 per share on NSE.

Pune-based Emcure Pharmaceuticals is set to launch its maiden public issue for subscription on July 3. The price band will be announced by June 28.

The IPO, which is a mix of fresh issuance of equity shares worth Rs 800 crore, and an offer-for-sale (OFS) of 1.14 crore equity shares by existing shareholders including promoters, will close on July 5.

Shares of IIFL Securities fell up to 2 per cent to Rs 222 apiece on Thursday after reports surfaced that market regulator Sebi has been investigating market expert Sanjiv Bhasin for his role in alleged stock market manipulation.

So far this year, the stock of this online trading platform surged over 55 per cent , outperforming the benchmark Nifty 50 index that climbed by 9 per cent during the same period.

At the global front, the stock futures pointed to modest gains in Europe after chipmakers drove a rally in Asia and yet another record-breaking session in the US.

Futures contracts for the Euro Stoxx 50 climbed 0.2 per cent as the MSCI Asia Pacific Index rose 1 per cent, lifted by the tech-heavy markets of South Korea and Taiwan. S&P 500 futures were little changed.