Domestic stock markets started Thursday's session on a positive note with the S&P BSE Sensex index hitting a new record high.
The Sensex climbed up as much as 206.66 points to hit an all-time high of 40,676.44 and the broader NSE Nifty benchmark moved to as high as 12,021.40, rising 55.35 points from the previous close, but was still 81.65 points away from its all-time high recorded in June this year.
Strength in banking and financial services sectors supported the markets however weakness in automobile and metal shares limited the gains. The Cabinet on Wednesday approved Rs. 10,000 crore for a fund to help clear stalled housing projects.
Finance Minister Nirmala Sitharaman said State Bank of India (SBI) and Life Insurance Corporation (LIC) will contribute an additional Rs. 15,000 crore, taking the total size of the fund to Rs. 25,000 crore.