Equity benchmarks raced to new peaks for the fourth straight session on Wednesday as participants took note of continuously improving macroeconomic indicators and positive trends in the global markets.

The BSE Sensex settled 403.29 points, or 0.87 per cent, higher at 46666.46, while the NSE Nifty climbed 114.85 points, or 0.85 per cent, to 13682.70 — a record closing for both the benchmarks.

Both the indices also marked their all-time intra-day highs of 46704.97 and 13692.35, respectively.

In the Sensex pack, HDFC, ONGC, Bharti Airtel, Asian Paints, Titan, TCS and Mahindra and Mahindra were the prominent gainers, advancing up to 3.11 per cent.

On the other hand, ICICI Bank, IndusInd Bank, NTPC, UltraTech Cement, Tech Mahindra and HCL Tech were among the major laggards, skidding up to 1.09 per cent.

Asian bourses closed broadly higher amid hopes that Covid-19 vaccines and economic stimulus by governments around the world will revive economic growth.

European equities surged to 10-month highs on prospects of a Brexit trade deal and expectations of a swift rollout of the coronavirus vaccination.

P-notes

Investments through participatory notes (P-notes) in the Indian capital market surged to a 27-month high of Rs 83,114 crore at November-end from Rs 78,686 crore at October-end, driven by continued liquidity and improvement in second quarter corporate earnings.

This was the highest level of investment since August 2018, when fund inflow through this route stood at Rs 84,647 crore.

P-notes are issued by registered foreign portfolio investors to overseas investors who wish to be part of the Indian stock market without registering themselves directly.