The S&P BSE Sensex added 62.87 points or 0.08% to 80,049.67. The Nifty 50 index rose 15.65 points or 0.06% to 24,302.15.

The Sensex and Nifty clocked an all-time high of 80,392.64 and 24,401, respectively in morning trade. Further, the Nifty Bank also hit record high at 53,357.70 in early trade.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.60% and the S&P BSE Small-Cap index rose 0.62%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 47,151.92 and 53,851.62, respectively. The market breadth was positive.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.65% to 12.86.

Among the sectoral indices, the Nifty Pharma index (up 1.39%), the Nifty Healthcare index (up 1.28%) and the Nifty IT index (up 1.10%) outperformed the Nifty 50 index.

Meanwhile, the Nifty Media index (down 0.45%), the Nifty FMCG index (up 0.21%) and the Nifty Financial Services index (up 0.18%) underperformed the Nifty 50 index.

Numbers to Track:

The yield on India's 10-year benchmark federal fell 0.06% to 6.997 as compared with previous close 7.001.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.4925, compared with its close of 83.4925 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement shed 0.02% to Rs 72,390.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 105.20.

The United States 10-year bond yield grew 0.58% to 4.369.

In the commodities market, Brent crude for September 2024 settlement lost 47 cents or 0.54% to $86.87 a barrel.

Global Markets:

Markets in Europe advanced on Thursday, with the U.K.'s general election in focus in the region.

Most Asian stocks ended higher on Thursday as Wall Street indexes, including the S&P 500 and NASDAQ Composite, hit record highs in holiday-shortened trading. Weak labor data, along with purchasing managers index readings, fueled investor bets on a 25 basis point rate cut by the Federal Reserve in September.

Meanwhile, minutes from the Fed meeting revealed concerns about a slowing economy and subsiding inflation, but officials desire additional data to justify rate cuts, leaving investors in wait-and-see mode.