Indian stock markets extended their record run this week, with the Sensex and Nifty both scaling new peaks.
The Sensex gained over 244 points to touch 38,938 while the Nifty50 index hit 11,760 amid higher global markets.
Market heavyweight Reliance Industries (RIL) led the charge, with shares rising 2% to Rs 1,318.20.
Metals, IT and auto stocks also had gains. The NSE metal index surged 1.8% amid a rebound in global commodity prices. Vedanta, Adani Ports, Maruti Suzuki, Axis Bank, Tata Steel and HDFC rose between 1% and 2%.
The NSE index, Nifty50, has had a record-setting run in the last two months, while the BSE has been Asia’s top performing index this year.
The new highs come as companies in India, the fastest growing major economy in the world, reported a 11.6% annual increase in profits for the June 2018 quarter, the strongest growth in five quarters.