The Sensex and the Nifty opened the day higher led by gains in banking stocks. The Sensex was trading higher by 130 points at yet another record of 28,916 points and is now just a few points shy away from another record of 29,000 points.
Larsen and Toubro also saw strong gains in trade today. Sesa Sterlite and Cipla were the other gainers in trade today.
Shares in HUL which have fallen sharply threw most of the week continued to trade flat. Among the smaller cap stocks Navin Flouride was up a huge 14 per cent after the company reported sharp growth in its net profits.
Crompton Greaves was trading higher after the company won a $26 million contract to reinforce Indonesia's grid.
Meanwhile, markets in Asia were trading higher on hopes of a stimulus from the European Central Bank. The shanghai Composite has recovered sharply following GDP numbers.