NEW DELHI, Aug. 23 (Xinhua) -- India's stock markets touched record high Thursday, with equity benchmark Sensex surging 38,480 and Nifty breaching 11,600 mark for the first time.
The flagship BSE Sensex surged 201.88 points to touch 38,487.63 in early trade, breaking its previous intra-day record high of 38,402.96 Tuesday. Wednesday was a national holiday.
Similarly, NSE Nifty upped 49.80 points to 11,620.70, breaching its previous intra-day high of 11,581.75 on Aug. 21.
The gains were mostly led by telecom, auto, fast moving consumer goods and pharma stocks.
However, the stock markets erased some of its gains later in the day amid weakness in Indian rupee, and metal and banking stocks.
The rupee fell 27 paise against the dollar to trade near 70.08.
Last year, India's economy went through a slowdown following the sudden scrapping of high value currency notes and implementation of goods and services tax, a unified tax regime.
