Sensex Hits A New Fresh Record High; ACC Surges

Benchmark indices rallied in trade for the third straight day, with the Sensex hitting a new fresh record high of 36,850 points, while the Nifty surged past the 11,100 points.

India's S&P BSE Sensex extended its record-breaking run led by HDFC twins, Maruti Suzuki and Larsen & Toubro.

At 3.10 pm, the Sensex was up 130 points at 36,849 points, while the Nifty was up 52 points at 11,137 points.

Overseas, Asian stocks ended higher, following mixed closing at Wall Street, as investors remained focus to bond yields and the falling Chinese yuan which may ease concerns about earnings pressure on exporters.

The market may see some volatility as traders will roll over their positions ahead of July F&O expiry on Thursday. Shares of ACC surged 11 per cent after the cement manufacturer reported flat set of earnings for the quarter ending June, 2018 with net profit marginally rising to Rs 328 crore from Rs 326 crore in the same period last year.

Shares in Thirumalai Chemicals fell as much as much as 5 per cent, after its net profits lagged estimates. Shares of Idea Cellular rallied 7 percent today as investors placed bet on the company agreeing to pay, 'under protest', Rs 7,249 crore to DoT for its merger with Vodafone.

On the earnings front, big companies like Asian Paints, ICICI Prudential Life, GlaxoSmithKline Pharmaceuticals, Symphony, Info Edge and Network 18 Media, will announce their quarterly numbers later in the day.

Most analysts are cautioning against taking huge positions in the markets, given the way some stocks have rallied. Meanwhile, the rupee dropped to 69 against the dollar in trade. Some month end buying is likely to be seen in the dollar, which may push the currency higher against the Indian rupee.