NEW DELHI, Aug. 28 (Xinhua) -- India's stock markets hit all-time highs Tuesday, with equity benchmark indices Sensex and Nifty surging past 38,875 and 11,751 mark, respectively.

This is the second day in a row this week that the markets continued their winning streak.

The flagship BSE Sensex surged 181.75 points to touch 38,875.86 in early trade, breaking its previous intra-day record high of 38,736.88 Monday.

Similarly, NSE Nifty rose 59.25 points to scale 11,751.20, breaching its previous intra-day high of 11,700.95 Monday.

The gains were mostly led by India's largest oil and gas company Reliance and banking, IT and automobile stocks.

Last year, India's economy went through a slowdown following the sudden scrapping of high value currency notes and implementation of goods and services tax, a unified tax regime.