New Delhi

Indian shares hit fresh record highs after breaching multiple milestones on Wednesday. 

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The blue-chip Sensex index opened at a record high of 78,759 and rose to breach 79,000 level for the first time ever. The broader Nifty index started at a new high of 23,882 and rose further to a new all-time high of 23,966. That is just shy of the 24,000 milestone. 

In the previous session, both indices hit fresh life highs, extending their bull run for another session of multiple milestones. Both the benchmarks started at new records and closed at all-time highs. 

On Wednesday, the Sensex index opened at a record high of 78,094 before turning lower in early trade. But soon hit a life high of 78,759 and closed over 620 points at a record of 78,674. The broader nifty index also started at a life high of about 23,697. During the session, the index hit an all-time high of about 23,890. The nifty closed at a record of nearly 23,869. 

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To put the current bull run into context: the nifty index has marked some kind of a record in 13 of the 14 sessions since June 7. Monday was the only exception in the record-high runs for the index. 

The run-up in Indian stocks is being driven by positioning ahead of the budget on expectations of pro-growth policies. 

The surge also suggests the risk of a disappointment crash is increasing if the government does not deliver on expectations.