The nifty 50 index crashed the highest of all time on Wednesday, driven by energy stocks, while car shares and telecommunications rose to local media reports that the government was considering incentives and financial assistance for sectors.
The NIFTY NIFTY 50 blue index rose 0.46% at 17,459.05 at 0510 GMT, after reaching a record high of 17,641.50 before.
Benchmark S & P BSE Sensex rose 0.47% to 58,579.86.
Stock energy adds more than 1%, driven by oil and natural gas 5.5% leap 5.5% to close to two years highs.
The stock was also the top enhancer in Nifty 50.
The automatic stock rose 0.7% after the media reported that the government would likely consider the incentive scheme related to production for the sector specific segment at a cabinet meeting on Wednesday.
Incentives, however, will only provide temporary concessions, said Siddharth Purohit, a research analyst at SMC Global Securities, because this sector continues to face the risk of global chip deficiency and warm demand.
The Telecom Laden company Vodafone debt rose by around 3% and a larger rival Bharti Airtel rose 1.8% in reports that the cabinet would probably consider financial assistance measures for the telecommunications sector on Wednesday.
Telecommunications companies will benefit from long-term relief measures, Purohit said, adding that expectations of rising rates and debt reduction in the future will also help.
Meanwhile, Zee Entertainment Enterprises shares extend their rally to rise by 15%.
On Tuesday Stock jumped 40% ahead of the shareholder meeting.
In broader Asia, shares fell when weak Chinese economic data triggered a global growth concern.
Nifty 50 hits high recording as auto, stock energy jumps
