The Sensex gained 0.98%, or 701.63 points, to close at 72,038.43 after touching an all-time high of 72,119.85. The Nifty advanced 1%, or 213.40 points, to close at 21,654.75, off the record high of 21,675.75. The Nifty Bank index rose 1.2% to a record closing level of 48,282.20.