Markets were at a record high today.The Nifty touched 12165 +111points and the sensex touched 41352 +413 points. Taking global cues markets rose today. The GST meet is on the 18th of December has to be looked into. The corporate tax reduced has led to an inflow of foreign funds. Banking shares rose. The foreign funds has been coming in but, penny stocks are rising which is bad, as penny stocks dont have fundamentals in them. Markets have become a play field for mutual funds and foreigners, local participation is very less.