In line with most Asian players, Indian benchmark indices opened the trading session on Wednesday at a record new high. Sensex rose over 150 points to a new high of 39,234 while Nifty moved above 11,750, on course to hit a new record high.

Leading the gains are HDFC twins, stocks from the banking sector who have rejoiced the SC's decision to strike down the RBI's February circular on resolution of stressed assets.

While Nifty media was the top index loser.

Asian shares have been trading at a 7-month high on brisk economic data as well as hopes of end of the US-China trade war situation.

The rally has been driven by anticipation of a rate cut by the RBI and the current government returning to power. Also, huge FII flow in the past month have also added to the gains in the Indian stock market.

Rupee also opened the day with marginal gains at 68.72 per US dollar.

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