Benchmark indices hit fresh record highs in early trade on Monday, lifted by buying in shares of ICICI Bank and Reliance Industries that came out with better-than-expected earnings last week.
At 9.24 am, the BSE Sensex was trading 71.56 points, or 0.19 per cent, higher at 37,408.41.
The index hit an all-time high of 37,496.80 in opening trade.
Nifty50 advanced 21.60 points, or 0.19 per cent, higher to 11,299.95, after hitting its record high of 11,309.35.
This was the first time that the index hit 11,300 mark.
ICICI Bank and RIL gained 0.8 per cent each.American depository receipts (ADR) of ICICI Bank on Friday rose 4.4 per cent to $8.72 in overseas market as the pace of NPA creation slowed.
RILs London traded GDR advanced 1.9 per cent at $32.75 on Friday.
Among Sensex stocks, SBI gained 2.86 per cent to Rs 294.80.
Vedanta, ONGC and Power Grid added 2.02 per cent, 1.67 per cent and 1.28 per cent, respectively.
Kotak Mahindra bank, HDFC Bank and Wipro fell 1.3 per cent, 0.87 per cent and 0.77 per cent, respectively.
NTPC gained 0.7 per cent after the company reported a 1.15 per cent year-on-year (YoY) drop in net profit at Rs 2,588.14 crore for the June quarter.
Meanwhile, stocks such as HDFC, Axis Bank, Idea Cellular, JP Associates, Avenue Supermarts(DMart), Tech Mahindra, InterGlobe Aviation, Piramal Enterprises, IDFC and IDFC Bank were in focus as the companies are slated to report their quarterly earnings later in the day.
CPCL, Can Fin Homes, Escorts, Central Bank will also report their quarterly results during the day.