Indian stock markets struck record highs for a fourth straight session on 5 November, as investors welcomed the government's intention to further reform Asia's third-largest economy and cheered falling oil prices.
The benchmark S&P BSE Sensex share average was trading 108.16 points, or 0.39%, higher to 27,968.54 points at 1445 IST in Mumbai, after breaching the psychologically important 28,000 barrier to hit 28,006.60.
The broader CNX Nifty was trading 33.45 points, or 0.40%, higher to 8,357.60, after touching 8,363.95 earlier in the day.
Banking and healthcare stocks led the gains.
In New Delhi, Finance Minister Arun Jaitely said the government intended to open railways more to private investment, review tough land purchase rules and relax labour laws.
The minister, speaking at the India Economic Summit, also said that Prime Minister Narendra Modi's regime could consider privatising state-owned firms at a later date.
Meanwhile, crude oil prices fell on 5 November, extending losses into a fifth session, as weak economic data from top energy consumer China fuelled worries about oil demand against a backdrop of a global supply glut.
Data from China showed that the nation's services sector growth weakened in October as new business cooled. The world's second-largest economy is also suffering dismal factory growth.
Analysts have forecast that the 30-share Sensex could touch 29,000 early next year.
Deutsche Bank has raised its Sensex target for March 2015 to 29,000, citing intensifying policy action.
Deutsche analysts Abhay Laijawala and Abhishek Saraf said in a note to clients last week that New Delhi "will capitalize on 11-mo. election-free window to move ahead decisively on reform agenda".
The government's thrust on reforms should help appease rating agencies and the nation's central bank that the government is committed to addressing supply-side constraints and fiscal imbalances, they added.