India's NSE Nifty index rises as much as 0.43 percent to a record high of 7,924.90.

That marks its fourth record high this week, surpassing the previous all-time high on Wednesday

Reiterating its bullishness on the domestic equities, Swiss brokerage UBS has said NSE Nifty will scale the 8,000-mark by December even though market expectations from government remain "unrealistically" high.

"The market direction is likely to remain positive going forward. We believe investors will be willing to give a premium for growth potential, especially as cyclical economic recovery starts manifesting in data points...therefore we maintain our Nifty target for end-2014 at 8000," UBS analyst Gautam Chhaochharia said in a note.

The BSE Sensex extended gains for the fourth straight session today soaring by 184 points to reclaim the 26,000-mark after two weeks as inflation dropped to five-month low level and foreign capital inflows rose - markets are also expecting a positive 'mini-Budget' speech from PM Narendra Modi on Independence Day on Friday.

The BSE benchmark, the Sensex was trading 137.58 points or 0.53% lower at 25,757.39 points, while the NSE's Nifty was trading 48.70 points or 0.63% lower at 7,672.60 points at 9.45 am IST.

On Thursday, the US markets cracked after Argentina announced that it had defaulted on its debt. The Dow Jones closed 1.88% lower, while Nasdaq ended 2.09% lower on Friday.

The National Stock Exchange (NSE) index Nifty today scaled a new record-high of 7,809.20 points, led by a rally in IT, tech, auto, oil & gas, banking and pharma stocks on sustained foreign capital inflows amid robust corporate earnings.

The 50-issue NSE Nifty index regained the 7,800-level for the second time this month by surging 41.35 points, or 0.53 per cent, to trade at an all-time high of 7,809.20, surpassing its previous intra-day high of 7,808.85 touched on July 8.

Banking shares are trading higher by up to 6% in early morning deals on National Stock Exchange (NSE) after consumer price index (CPI)-based inflation fell to 7.31% in June, the lowest since its launch in January 2012.

Its wholesale counterpart declined to a four-month low of 5.43% in the month and wholesale price inflation eased to a four-month low in June after the new government curbed farm exports.

Infosys has dipped over 4% to Rs 3,185 in early morning deals, erasing its entire gain recorded in last week, on the National Stock Exchange (NSE).

The stock had outperformed the market by gaining 2.4% in last week compared to 3.7% decline in benchmark CNX Nifty.

Shares of information technology (IT) companies are trading higher in the range of 1-4% on the National Stock Exchange (NSE) after Infosys reported a better-than-expected consolidated net profit for the first quarter ended June 30, 2014 (Q1).

All four large-cap IT stocks - Infosys, Tata Consultancy Services (TCS), HCL Technologies and Wipro are up in the range of 1-2%. Rolta, Tech Mahindra, KPIT Cummins, NIIT Technologies and Hexaware Technologies are up 2-4% on NSE.

The benchmark BSE Sensex gained over 83 points to hit another record-high of 25,924.25 in opening trade today on strong rally in FMCG, metal, consumer durable, PSUs and oil & gas stocks amid sustained capital inflows.

Hitting a new peak for the second straight session, the 30-share barometer surged 83.04 points, or 0.32 per cent, to trade at 25,924.25, surpassing its previous intra-day high of 25,864.53 reached yesterday.

BSE Sensex and NSE Nifty are likely to trade range-bound as investors have turned cautious and will wait for clarity in the maiden Budget of the newly-elected Narendra Modi government, due on July 10.

The market will take a close look at the U.S. non-farm payroll data, due on July 3, which will direct the short-term trend in global equities.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.