The Indian benchmark indices hit record highs in opening trade on Thursday with Sensex climbed 38,000 for the first time, while Nifty50 inched towards 11,500.
Nifty Bank also hit the record high in the morning trade, led by stocks like ICICI Bank gained 4 percent, Bank of Baroda up 1.3 percent, PNB up 1.7 percent and SBI up 1.5 percent.
From oil and gas space, HPCL, BPCL, IOC, IGL, Petronet LNG and Reliance Industries were up close to 1%.
Nifty Media is up over 1 percent, outperforming all other sectorial indices led by INOX Leisure which jumped 5 percent followed by TV Today Network which added 3 percent. Hathway Cable, HT Media and PVR are the other gainers.
Pharma index gained over 1 percent led by Cipla, Cadila Healthcare, Glenmark Pharma, Lupin, Sun Pharma and Piramal Enterprises.
Nifty PSU bank is up 1.5 percent led by Union Bank of India, gained 3.2 percent, OBC, PNB, Syndicate Bank, Bank of India, Andhra Bank, Allahabad Bank, IDBI Bank are the other gainers.
ICICI Bank, Axis Bank, Cipla, SBI and Hindalco Industries are the top gainers on the Nifty.
Share price of Selan Exploration Technology gained 9.7 percent in the opening trade as investor Dolly Khanna has purchased over 1 lakh shares of the company.
Bajaj Finance, IPCA Laboratories, Torrent Pharmaceuticals, Info Edge, Nelco, Selan Exploration, VIP Industries are some of the stocks which have hit new 52-week high in the morning trade on NSE.
The breadth of the market favoured advances, with 1008 stocks advancing, 582 declining and 469 remaining unchanged. On BSE, 1221 stocks advanced, 634 declined and 64 remained unchanged.