The Indian equity benchmarks extended their rally to seventh day and created record highs for yet another session on the back of strong corporate incomes.

The standards staged a gap up opening and extended gains in afternoon trading led by gains in Reliance Industries, ICICI Bank, HDFC Bank, Asian Paints and Infosys.

The Sensex increased as much as 405 points to strike record high of 51,753.42 and Nifty 50 index touched an all-time high of 15,237.90.

As of 12:00 pm, the Sensex rose 364 indicate 51,712 and Nifty 50 index climbed 109 points to 15,225.

The benchmark stock indexes struck multiple all-time highs in current sessions as investors cheered recently's high-spending and growth-focused budget plan focused on reviving the economy.

Strong foreign inflows, strong corporate earnings and resilient international markets have actually also helped belief, analysts stated.

Many companies reporting third-quarter results have beaten Street estimates by an exceptional margin, which is feeding optimism for domestic and foreign investors who have currently been impressed by the budget plan, Likhita Chepa, senior research expert at Capitalvia Global Research informed Reuters.Eight of 11 sector assesses assembled by the National Stock Exchange were trading higher led by the Nifty PSU Bank index's over 2 percent gain.

Nifty Bank, Real Estate, IT, Financial Service and Metal indexes likewise increased in between 0.5-1 percent each.On the other hand, Nifty Automobile, Media and pharma indexes were trading with an unfavorable bias.Mid- and small-cap shares were underperforming their bigger peers as Nifty Midcap 100 index rose 0.4 percent and Nifty Smallcap 100 index advanced 0.3 per cent.Asian Paints was top Cool gainer, the stock increased 4 per cent to Rs 2,514.

ONGC, HDFC Life, SBI Life, Titan, Wipro, Indian Oil, Power Grid, UPL, ICICI Bank and Bharat Petroleum likewise increased between 1.3-3 per cent.On the flipside, Mahindra - Mahindra, Tata Motors, Bajaj Car, JSW Steel, Bajaj Finserv and Hero MotoCorp were among the noteworthy laggards.Shares of Kishore Biyani-led Future Retail increased as much as 10 percent to strike an intraday high of Rs 80.50 a day after Delhi High Court reversed its previous order that had stalled Future Group's Rs 24,713 crore offer to sell its retail assets to Reliance Retail.The overall market breadth was marginally favorable as 1,424 shares were trading higher while 1,278 were decreasing on the BSE.