The BSE Sensex also logged a new peak of 26,854.55 on the back of positive economic growth data for the April-June quarter.
India's economy expanded at its fastest pace in more than two years in the April-June quarter. India's GDP grew at 5.7 per cent in the first quarter of 2014-15, exceeding expectations.
Global investment bank, BofA-ML is of the view that corporate earnings and markets are set to double in the next 4 years.
"We continue to reinforce our message that earnings are set to double over next 4 years to FY18 and market returns could mirror earnings growth," said Jyotivardhan Jaipuria, Research Analyst at DSP Merrill Lynch (India) and Anand Kumar of DSP Merrill Lynch.
"We continue to be bullish in the long-term on the Indian market and believe that buying on dips is a particularly compelling strategy. Our bullishness is driven by the bottoming of the earnings cycle," added Jaipuria.
At 1:17 p.m.; BSE Sensex was trading 192.51 points higher at 26,830.62. It hit a fresh record high of 26,854.55 and a low of 26,732.39 in trade today.
The Nifty was at 8,014.65 up 60.30 points or 0.76 per cent. It touched a fresh record high of 8,023.30 and a low of 7,984.00 in trade today.
D-Street highlights @ 1 pm
PM Modi woos Japan to strengthen trade ties with the nation
Nifty scales past 8000 milestone, Buying momentum in PSUs continues
Sharda Cropchem: To raise up to Rs 350 cr by selling 22.56 mn shares
Fin Min Sources: Moody's to meet Fin Min officials on September 8
Fin Min Sources: May meet RBI in Sept last week on Oct-March borrowing plan
Prime Focus: Sin City is a very ambitious project of the co
RBS : RBI target of 6% inflation by FY16 seems little difficult
RBS : Govt must take advantage of the stable global environment
RBS : Govt must create sustainable environment for investments
RBS : Services sector growth is very positive, can be sustained
RBS : Need to see some stability in the investment activity
@ 12 pm
August Auto Sales: Eicher Motors exports at 522 units vs 354 unit YoY
KFA has filed a PIL against UBI in Supreme Court
KFA dirs are AK Ganguly, Subhash Gupte, Ravi Nedungadi
KFA Mgmt did not appear before UBI Grievance Redressal Cell
UBI declares 3 directors of KFA as wilful defaulter
United Bk of India declares KFA, Vijay Mallya as wilful defaulters
Govt : PSU cos' FY15 subsidised fuel loss seen at Rs 91,665 cr
Govt : PSU cos' loss on subsidised LPG sale for Sept seen at Rs 427.82/cyl
Govt : PSU cos' loss on kerosene sale for Sept seen at Rs 32.83/ltr
Govt : PSU cos' Sept 1-15 subsidised fuel loss seen at Rs 195 cr/day
@ 11 am
Dredging Corp divestment to meet SEBI public float norm
Trial court to next hear CBI closure report on Hindalco on Sep
India Aug HSBC manufacturing PMI at 52.4 vs 53 in July
August Auto Sales: Maruti Suzuki total sales at 1.10 lk units, up 57% YoY
August Auto Sales: Maruti Suzuki domestic sales at 98,304 units, up 10.3% YoY
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