Share market: The benchmark indices are on a roll today with BSE Sensex hitting a record high of 39,277 and Nifty scaling 11,800 level for the first time. The surge is led by gains in banking, metal, oil and gas, telecom and auto stocks, amid unabated foreign fund inflows and positive global cues. 5 reasons that are driving the stock market today: Monsoon forecast After the weather department yesterday predicted a near-normal monsoon for April-September period, the stock markets climbed nearly 1 per cent in Tuesday\u2019s trade. Days back, private weather forecaster Skymet had predicted below normal rainfall during the monsoon season. Also read: Share market LIVE: Sensex extends gains to fresh highs, Nifty near 11,800; IndusInd Bank, ICICI Bank jump Earnings Robust performance by IT majors - TCS and Infosys - is continuously supporting the upward move in the last couple of days. Trade data The trade deficit narrowed to $10.89 billion during March as against the $13.51 billion in the same month of the previous year. The exports surged to a five-month high of 11 per cent last month. FII inflows Foreign investors or FIIs purchased equity worth Rs 713.22 crore on Monday, and domestic institutional investors or DIIs bought equities to the tune of Rs 581.36 crore, provisional data available with stock exchanges showed. "The rally in the market has been mainly due to aggressive buying by the FIIs; and for valuations to sustain, there needs to be an uptick in earnings growth this quarter," Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas told news agency PTI. Technicals \u201cThe markets surpassed their previous high of 11760 and presently trade modestly above this levels. The markets are on with full throttle but both Investors and Traders alike need to tread this cautiously. Discounting the fact that we are approaching general elections with highly elevated levels, the markets have posed a great question mark of sustainability at current levels from the technical perspective as well,\u201d Milan Vaishnav, CMT MSTA told Financial Express online. \u201cTo begin with, the second phase of up move that we have witnessed from 11550 levels have come with persistent bearish divergence from the lead indicators. Along with this, we have Crude at 2019 highs, INR that is constantly appreciating and the VIX which is at its multi-month high do not paint a safe picture for the markets," he added. The investors should experiemce to book profits rather than chasing the momentum during such times, he also said.