Mumbai: Benchmark Sensex surged 148 points to 29,803.90 while the Nifty hit a record high of 9,279.80 in morning trade on persistent buying on the back of overnight rally on the Wall Street.

Positive Asian cues also boosted market sentiment. The Sensex resumed higher at 29,825.14 and firmed up further to 29,841.39, its highest intra-day level since April 7, 2017 before quoting at 29,803.90 at 1100 hrs, showing a gain of 148.06 points or 0.50 per cent.

The Nifty rose to its record high level of 9,279.80 before quoting at 9,260.35 at 1100 hrs, showing a gain of 42.40 points of 0.46 per cent. Major gainers from the Sensex pack were M&M 2.42 per cent, Reliance Ind 1.63 per cent, Bharti Airtel 1.19 per cent, ICICI Bank 1.15 per cent, HDFC 1.09 per cent, Tata Steel 1.01 per cent and Larsen 1.01 per cent.

Overseas, Asian shares gained following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election. US stocks rallied yesterday as concerns over France's potential exit from the euro currency bloc eased.

The Dow Jones Industrial Average jumped 216.13 points to close at 20,763.89. The S&P 500 surged 25.46 points to 2,374.15. Meanwhile, foreign funds net sold shares worth Rs 279.55 crore while domestic funds bought shares worth net Rs 984.17 crore yesterday as per the provisional figures issued by stock exchanges.