Equity benchmark BSE Sensex rallied more than 335 points during moring to hit a fresh lifetime high on Wednesday, tracking gains in index heavyweights ICICI Bank, HDFC Bank and M&M despite a weak trend in global markets.

After touching a record of 60,630-level the 30-share Sensex was trading 339 points or 0.43 per cent higher at 60,623. Similarly, the Nifty surged 133 points or 0.74 per cent to a new intra-day peak of 18,089.70. Mahindra and M was the top gainer in the Sensex pack, rallying over 3 per cent, followed by PowerGrid, Bharti Airtel, L&T, ICICI Bank and Axis Bank.On the other hand, Nestle India, HUL, HCL Tech, SBI and Tata Steel were among the laggards. In the previous session, the 30-share index ended 148.53 points higher at record 60,284.31, and Nifty rose 46 points to its fresh closing peak of 17,991.95.

On the economic front, the International Monetary Fund retained India's growth projection at 9.5 per cent for 2021. The IMF downgraded the global economic projection to 5.9 per cent from six per cent in its latest WEO update ahead of its annual meeting and the World Bank.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 278.32 crore on Tuesday, as per exchange data.

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