Mumbai: Benchmarks rallied to record highs today to end the first week of 2018 with gains as investors cranked up fresh purchases in tandem with bullish global cues.

The BSE Sensex surged over 184 points to close at its lifetime high of 34,153.85, while the broader NSE Nifty ended at record 10,558.85.

Sentiment got a leg-up after the Lok Sabha yesterday gave its approval for Rs 80,000 crore recapitalisation bonds for strengthening public sector banks (PSBs), traders said.

Global cues were upbeat as well following a record- smashing run at the Wall Street overnight, with Dow Jones Industrial average going past the 25,000-mark for the first time.

The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 34,188.85, breaking its previous (intra-day) record of 34,137.97 hit on December 27.

It lost some ground on profit-booking, before finally ending 184.21 points, or 0.54 per cent higher at 34,153.85, smashing its previous record close of 34,056.83 reached on December 29 last year.

The gauge had gained 176.26 points in the previous session.

The NSE Nifty also hit a record intra-day high of 10,566.10 and closed at 10,558.85, up 54.05 points, or 0.51 per cent.

It bettered its previous closing high of 10,531.50 reached on December 26 last year.

This was the fifth straight week of gains for the markets. During the first week of 2018, the Sensex notched up a rise of 97.02 points, or 0.28 per cent. The Nifty gained 28.15 points, or 0.26 per cent.

"Positive US jobs data fuelled optimism in global markets, having a rub-off effect in the domestic market.

Additionally, clarity regarding the time frame of PSBs capital infusion provided positive vibes in the domestic market," said Vinod Nair, Head of Research, Geojit Financial Services.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 212.05 crore, while domestic institutional investors (DIIs) made purchases worth Rs 325.24 crore yesterday, as per provisional exchange data.

Yes Bank was the biggest gainer in the Sensex pack, spurting 5.03 per cent, followed by Adani Ports at 3.71 per cent.

Other big gainers were Bharti Airtel, IndusInd Bank, Dr Reddy's, HDFC Ltd, Asian Paints, TCS, Tata Steel, ITC Ltd, Axis Bank, Maruti Suzuki, Bajaj Auto, HDFC Bank, Coal India, Reliance Industries, Kotak Bank, Tata Motors, Power Grid, HUL, NTPC and M&M, gaining up to 3.36 per cent.

In sectoral terms, the BSE telecom index rose the most by gaining 2.75 per cent, followed by consumer durables 1.25 per cent, teck 0.89 per cent, realty 0.75 per cent, FMCG 0.74 per cent, healthcare 0.62 per cent, auto 0.60 per cent, bankex 0.55 per cent and metal 0.46 per cent.

The broader markets too remained in bullish mode, with the BSE small-cap index rising 0.97 per cent. The mid-cap index ended at fresh record highs by rising 0.69 per cent.

Shares of Idea Cellular rallied for the second day, rising 10.67 per cent, after the company unveiled a plan to raise up to Rs 6,750 crore ahead of its merger with Vodafone.

However, shares of state-run oil marketing companies such as HPCL, BPCL and IOC lost up to 1.01 per cent largely on soaring global crude prices.

Overseas, Asian bourses displayed a strong trend, with Japan's Nikkei rising 0.89 per cent, Shanghai Composite gaining 0.18 per cent while Hong Kong's Hang Seng rose 0.25 per cent.

In the Eurozone, Frankfurt's DAX was up 0.65 per cent, while Paris CAC 40 rose 0.38 per cent in late morning trade.

London's FTSE was up 0.09 per cent.