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Sensex reclaims 38,000-mark; Nifty above 11,400

NEW DELHI: Markets persisted to surge for the fifth consecutive consultation with the benchmark BSE Sensex reclaiming the 38,000-mark. Sensex closed 269 points or zero.71 per cent to higher at 38,024; while the broader NSE Nifty moved 84 points or zero.74 per cent up to finish at 11,427.

Top gainers on the BSE index include Kotak Mahindra Bank, ONGC, PowerGrid, TCS, NTPC, SBI and HCL Tech with their shares surging up to 4.31 per cent. Hindustan Unilever, Yes Bank and Bharti Airtel were among the primary laggards, declining up to 2.16 per cent.

On NSE, apart from for Nifty FMCG and Realty, all other sub-indices finished in green, rising up to 1.88 per cent.

According to Hemang Jani, head - advisory, Sharekhan through BNP Paribas, the market seems to be in a positive mood ahead of the 2019 common elections.

"Foreign institutional investors (FIIs) have pumped around Rs 30,000 crore this year which is a positive for equities. Investors seem to be factoring another term for the current government," he mentioned.

On a net basis, FIIs purchased stocks worth a net of Rs 1,482.99 crore on Thursday, while home institutional investors (DIIs) were net sellers to the song of Rs 817.77 crore, provisional data available with BSE confirmed.

(With PTI inputs)

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