Benchmark indices surged to new record highs on solid global cues and on reports of 100 per cent FDI in banks. Global cues were also strong following record gains in the US Markets as the US Dow Jones surged past the 26,000 points mark.
The Sensex was trading with gains of 348 points at 3,421 points, while the Nifty rallied 80 points in trade at 10,888 points.
Leading the set of gainers were some of the banking stocks including the likes of SBI, ICICI Bank and Yes Bank. Shares in Hindustan Unilever rallied to record highs after the FMCG company reported good growth in volumes. The shares of the company were up 2.6 per cent.
Among non index stocks, Thirumalai Chemicals saw its shares jumping 12 per cent after the company reported a sharp increase in net profits. The mid cap and small cap stocks also saw a good rally with the indices up 0.2 and 0.4 per cent respectively.
Meanwhile, the rupee was steady at 63.93 to the dollar, while bond yields were steady.