India's stock markets hit record high

NEW DELHI, Aug. 27 (Xinhua) -- India's stock markets touched record highs Monday, with equity benchmark indices Sensex and Nifty breaching 38,585 and 11,651 mark, respectively, for the first time.

The flagship BSE Sensex surged 333.64 points to touch 38,585.44 in early trade, breaking its previous intra-day record high of 38,487.63 on Aug. 23.

Similarly, NSE Nifty upped 94.40 points to scale 11,651, breaching its previous intra-day high of 11,620.70 on August 23.

The gains were mostly led by metal, banking and fast moving consumer goods stocks.

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.