The 30-share BSE Sensex jumped 494.28 points, or 0.67%, to settle at 74,742.50.
During the day, it climbed 621.08 points, or 0.83%, to reach a new intra-day record high of 74,869.30.
"BSE listed companies' market capitalization has risen 8.4% in 2024 (vs 7.1% for BSE 500) and 53.9% since 1 April, 2023 (vs 42% for BSE 500).
This reflects the impact of broad-based upmove in the markets triggered by flows from locals and abroad," said Dhiraj Relli, MD & CEO of HDFC Securities.
Apart from the improvement in Indian macros quarter after quarter, higher allocation towards equities and new investors entering the markets directly and through mutual funds also boosted the stocks.
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