At around 09.54 am, Sensex was trading at 61,707.50 higher by 401.55 points or 0.6%. Nifty 50 performed at 18,477.75 up 139.20 points or 0.7%.
Sensex has clocked a new lifetime high of 61,894.33, while Nifty 50 touched a historic high of 18,521.10.
In terms of sectoral indices, on NSE, the Metal index skyrocketed 3.3%, while the IT, Auto, Consumer Durables, Oil & Gas and Bank Nifty jumped around 1% each.
Top bulls on Nifty 50 were - Hindalco climbing 5.5% followed by Tata Motors and JSW Steel soaring 3.7% and 3.5%. ONGC and Tata Steel surged 2.8% and 2.6%.
Top bears on Nifty 50 were - Asian Paint, Dr Reddy's Lab and HCL Tech diving by more than 1% each. Bajaj Auto and Eicher Motors slipped 0.8% each.
Companies that will be announcing their Q2 results today and will be in focus are - UltraTech Cement, Larsen & Toubro Infotech, Route Mobile, Alok Industries, Concord Drugs, Craftsman Automation, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Hatsun Agro Product, International Travel House, Lloyds Steels Industries, Navigant Corporate Advisors, Sunedison Infrastructure, SVP Global Ventures, Tanfac Industries, Tata Coffee, and Uniply Decor.
On the global front, Asian markets opened muted as the Japanese 'Nikkei' saw profit booking in early trade after the superb rally of last week. Most other Asian markets also traded flat as early morning profit booking was witnessed as investors worry over rising inflation and rates. Chinese data due later could set the tone as growth may be lowest in the last 4 quarters.
Last week, on Friday, US markets close with a flourish as Dow Jones adds over 900 points in 2 days with data on jobs beating estimates and global cues seeing equities outperform. Bond yields spike to 1.58% while oil hits over 3-year highs with Brent crude crossing US$ index 85. Earnings from large banks see financials lead the rally.