Sensex Hits Record High As Asian Markets Trade Strong

Benchmark indices opened the day higher, As Asian stocks began the week on a higher note, as the People's Bank of China kept loan prime rate (LPR) unchanged.

Mainland Chinese stocks saw gains, with the Shanghai composite up more than 0.2% while the Shenzhen composite was 0.15% higher.

The Sensex was trading with gains of 187 points at 42,131 points, which was another record high for the benchmark index.

Shares in Reliance Industries, which reported numbers that were largely in line with expectations, saw hectic buying. The stock was up more than 1 per cent, following good quarterly numbers by the retail and the digital business.

HDFC Bank another stock that reported very good quarterly numbers too saw good buying support and the stock was up more than 1 per cent. Both HDFC Bank and Reliance Industries are heavyweight stocks, which pushed the index to new highs.

TCS on the other hand, which saw its net profits remain flat, witnessed some selling pressure in trade. The shares were down more than 1 per cent.

Most of the oil marketing stocks were trading with losses with Indian Oil losing as much as 6 per cent in trade. The stock hit a new 52-week low in trade.