Domestic markets surged over a half per cent during the intra-day trade on Wednesday, tracking gains in index majors ITC, Reliance Industries, HCL Tech, and NTPC amid persistent foreign fund inflow and positive cues from global markets.

At 10.49 a.m. the S&P BSE Sensex was trading 300.94 points or 0.66 per cent higher at 45,909.45. So far it had touched a high of 45,965.03, its fresh lifetime peak in early trade.

Similarly, the broader NSE Nifty rose 85.35 points or 0.64 per cent to 13,478.30. It touched its lifetime intra-day peak of 13,494.85 in early trade.

ITC was the top gainer in the Sensex pack, rising around 2.10 per cent, followed by Reliance, HCL Tech, NTPC, Asian Paints, and Axis Bank.

On the other hand, Maruti, Titan, Ultra Tech Cement and Tata Steel were among the top laggards.

In the previous session, Sensex climbed 181.54 points or 0.40 per cent to finish at its fresh lifetime high of 45,608.51, while Nifty rose 37.20 points or 0.28 per cent to 13,392.95 – its new closing record.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,909.60 crore on a net basis on Tuesday, according to provisional exchange data.

Binod Modi, Head-Strategy at Reliance Securities, said domestic markets saw a gap-up opening on Wednesday taking cues from positive global markets.

“Persistent FPI flow remains a dominant factor for the markets. Given strong visibility of sustained earnings growth in 2HFY21 led by continued traction in business activities for many sectors, markets are likely to remain buoyant.

“However, high valuations of markets will continue to pose a risk. We believe midcap and small cap stock may continue to see traction in the near term,” he said.

US equities finished higher with key indices recording new highs mainly on satisfactory progress on vaccine approvals and distribution, he added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a positive note in mid-session deals.

Meanwhile, the global oil benchmark Brent crude futures were trading 0.51 per cent lower at USD 48.59 per barrel.