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Sensex Erases Whopping Gains To Settle Above 38000

Roshni Agarwal

At the closing hour, Sensex ended the Friday's session with a gain of 269.43 or 0.71% at 38024.32.At one point, benchmark BSE Sensex surged as much as 420 points. Nifty also ended the day on a positive note with gains of 84.95 points or 0.75% or 11428.20

Bank Nifty hit a new high has been the major index gainer with gains of 10% this month.The major drivers though are the continuous flow of FII funds as well as rupee's positive trajectory. Indices have now hit a fresh six-month high.

Further factoring of the stable government at the centre is another force driving the current market rally.

RIL, which is now added in the world's top 75 club, also gained in today's session after Brookefield acquired its East West Pipeline.

Airtel on the other hand is the major loser in session today after credit rating agency Jeffries downgraded the stock rating.

Meanwhile, rupee backed by positive FIII sentiment also gained to a six-month high.

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