New Delhi: Both the equity benchmarks on Thursday hit fresh highs in the opening trade with the Sensex hitting the 38,000 marks. The Sensex hit its intra-day high at 38,061.06 after opening at 37,994.51.
The Nifty50 opened at 11,493.25 level - its intra-day high was 11,495.20. At 9:29 am, the Sensex traded at 38,005.65, up 118.09 points or 0.31 per cent, while Nifty50 at 11,475.75, with a gain of 25.75 points or 0.22 per cent.
ICICI Bank (up 3.25 per cent), Tata Motors (up 1.18 per cent), Infosys (up 1.15 per cent), State Bank of India (up 1.09 per cent) and Sun Pharma (up 0.99 per cent) were the top five Sensex gainers.
Cipla (up 4.43 per cent), ICICI Bank (up 2.97 per cent), Hindustan Petroleum (up 1.63 per cent), Hindalco (up 1.36 per cent) and Indian Oil Corporation (up 1.27 per cent) were the top five Nifty gainers.
"Bulls came back in action and marched towards the uncharted territory. The benchmark index is oscillating in an escalating channel, wherein overhead resistance is placed near the 11,500-mark. Bank Nifty is oscillating in an escalating channel wherein overhead resistance is placed near 29,000. So we may expect Bank Nifty to outperform in the coming days," Dyaneshwar Padwal, AVP, Technical Analyst, KIFS Trade Capital, said.