Around 10.15 a.m., the Sensex hit a fresh record of 38,993 points.

At 10.27 a.m, the Sensex traded at 39,015.26, higher by 342.35 points or 0.89 per cent from the previous close.

The Nifty50 on the National Stock Exchange also crossed the 11,700 mark for the first time since September 3, 2018.

It traded at 11,710.25, higher by 86.35 points or 0.74 per cent from the previous close of 11,623.90 points.

A rise in the Asian indices, along with healthy buying in the auto, capital goods and metal stocks supported the gains in the domestic indices, analysts said.