The benchmark Bombay Stock Exchange Sensex and the NSE Nifty rose nearly 2 per cent to a record high on Tuesday, gaining for a fourth straight session, as blue chip stocks gained on hopes about the domestic economy, while strong global cues also helped.

The benchmark 30-share BSE barometer rose 1.85 per cent to 28,784,67. Intra-day, the gauge gained as much as 2 per cent to hit a record high of 2,8829.29.

The broader 50-issue National Stock Exchange (NSE) index Nifty closed 1.69 per cent higher at 8,695.60, after rising 1.83 per cent intra-day to a lifetime high of 8,707.90.