Indian markets at new record close

Indian share prices hit a third straight record high close on Wednesday as retail investors joined in the rally, dealers said. They said interest was strong with notable demand from retail investors and gains in cement and pharmaceutical stocks.
The benchmark 30-share Sensex index rose 108.89 points or 0.94 percent to 11,746.90, beating Tuesday's record close. The Sensex also touched a new intra-day record of 11,755.20 in early trade.
The index has risen almost 25 percent since the start of 2006 as overseas investors have poured in 4.12 billion dollars on top of more than 10 billion dollars in 2005.
"With frontline stock valuations stretched, buying interest has been strong in mid- and small-cap stocks. Cement stocks were active on media reports of a possible hike in prices," said Soumeel Chakravarthy, a dealer with brokerage KJMC Capital Market Services.