The Sensex and Nifty started off Wednesday's trade with record highs, backed by banks, metals and telecom stocks. 

The rally was after the World Bank said India's rank on 'ease of doing business' scale has risen from 130th to 100th this year, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution.

The Sensex was up 209.28 points or 0.63 per cent at 33,422.41 and the Nifty rose 61.20 points or 0.59 per cent to 10,396.50.