Sensex Hits New Record High; Global Cues Remain Firm

Benchmark indices opened the day higher, as global cues remained firm and Asian markets were trading higher, following record closings in the US.

The record closings were following the signing of the first phase of the trade agreements between the US and China.

The Sensex was trading with gains of 305 points, at a new record of 41,240 points, while the Nifty was up 83 points in trade. Shares in Reliance Industries was trading higher following reports that Brookfield Infra Partners has signed a binding agreement to acquire 100 percent stake in a telecom tower company from Reliance Industrial Investments & Holdings Limited, a wholly-owned subsidiary of Reliance Industries.

Shriram Transport Company saw its shares fall after reports S&P cut the company's outlook to 'Negative' from 'Stable'. the stock was down 2.76 per cent in trade at Rs 1071.

Top Nifty gainers in trade today were most of the metal stocks including names like Tata Steel and Vedanta, while stocks that lost ground included names like GAIL, ONGC and NTPC. Oil exploration stocks like ONGC and OIL were down in the last few days, following worries over the volatile atmospehere in places like Assam.

Meanwhile, most Asian markets were trading higher led by gains in the Japanese Nikkei and the Hong Kong's Hang Sang.