At 1:00 p.m., Sensex was up 800 points, or 1.08 per cent at 75,023 and Nifty was up 246 points, or 1.09 per cent, at 22,843 points.

This is the first time Nifty trades above 22,800 points, crossing an earlier level of 22,794 points.

The Nifty midcap index is also at an all-time high.

The Nifty midcap index is up 238 points or 0.46 per cent at 52,405 points and the Nifty smallcap is up 27 points or 0.17 per cent, at 16,909 points.

India Volatility Index (India VIX) is trading flat at 21.47 points.

According to HSBC Flash Purchasing Manager's Index (PMI) data released on Thursday, the Indian economy clocked a record rise in exports and the sharpest upturn in employment in nearly 18 years in May, fueling markets for an uptrend.

Among the sector indices, Auto, IT, PSU Bank, Fin Services, Realty, Pvt Banks and Infra are major gainers. Pharma, FMCG, Metal and Energy are major laggards.

Axis Bank, L&T, Maruti Suzuki, M&M, IndusInd Bank, Infosys, Bajaj Finserv, SBI, Titan, and ICICI Bank are top gainers. Sun Pharma, Power Grid, NTPC, JSW Steel, ITC and Tata Steel are the top losers in the Sensex.