The Nifty Midcap index hit a fresh record high with Coromandel International, Ashok Leyland, and Container Corporation of India seeing gains of around 4-5 percent
Financial stocks were under pressure dragged down by Kotak Mahindra Bank, while consumer stocks fell on an earnings miss from heavyweight Hindustan Unilever
Going by expectations of high volatility, analysts suggest investors to use any rise as an opportunity to go short and refrain from turning aggressive with their bets.