Indian stock markets Continued the record-breaking spell from the last week as both benchmark indices crossed their historical highs in the opening hour on Monday.

The 30-share BSE Sensex was trading at 84,830.30 points adding 285.99 points or 0.34 % while the NSE Nifty was trading up 120.25 points or 0.47% at 25,911.20 points. The indices hit their record highs of  84,881.73 and  25,925.80 respectively soon after the opening bell.

 All sectoral indices are in green with theAuto segment gaining about 1% followedby Pharma and Metal shares. ONGC, BAJAJ Auto, and BPCL rallied more than 1.70% each followed closely by Mahindra and Mahindra and Adanient whose shares surged 1.65% and 1.58% each.

Glenmark Pharma shares surged over 6% following its announcement that the company's formulation manufacturing facility in Aurangabad, Maharashtra, has successfully passed the US Food and Drug Administration (USFDA) inspection with zero observations.

Vodafone Idea shares were trading nearly 9% higher at ₹11.42 per share on the BSE. The surge followed the company's announcement on Sunday that it had awarded contracts worth around ₹30,000 crore to Nokia, Ericsson, and Samsung.

Among the top losers on Nifty, ICICI Bank lost 1.17%  while Eicher Moto was down by 0.63%.The IT segment was trading flatdragged down by Wipro, and Infosys shares which were trading low at 0.43% and 0.33% respectively. 

Mid-cap and Small-cap indexes which faced pressure in the last sessions gained more than 0.50% in the morning session on Monday. Market breadth was positive, with 1707 shares advancing out of 2,682 shares traded, while 914 shares declined and 61 remained unchanged.

The broader Asian markets also traded in green fuelled by the expectations that the U.S. economy is set for a soft landing amidst rate cuts and better-than-expected data last week.

Japan's Nikkei rallied 1.53% to 37,723.91, while Hong Kong's Hang Seng Index rallied by 100.81 points, or 0.55%, to 18,359.38 and South Korea's Kospi was trading in green adding0.20%.