The Indian stock markets in trade surged to record highs after two days of sluggish trading on Thursday led by gains in ICICI BankL&T, Tech Mahindra, Power Grid and HCL. At intraday, The Sensex rose as much as 348 points to hit an all-time high of 54,874.10 and Nifty index touched record high of 16,375.50.

At the closing point, the BSE Sensex ended 318 points higher to close at an all-time high of 54,844 and Nifty 50 index advanced 82 points to close at record high of 16,364. Mid-Cap and small-cap shares witnessed buying interest after the BSE clarified on additional surveillance measures. The BSE MidCap index rose 1 percent SmallCap index climbed 2 percent.

Power Grid was the top Nifty gainer; the stock climbed nearly 6 percent to close at record high of Rs. 186.85. Tech Mahindra, Tata Motors, L&T, HCL Technologies, Titan, NTPC, ICICI Bank, Bajaj Auto and Tata Consumer Products were also among the gainers. On the flipside, Eicher Motors, Divi's Labs, Cipla, IOC, ONGC, BPCL, IndusInd Bank, Reliance Industries, m&m, Sun Pharma and Axis Bank were among the losers.

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