Indices climb to fresh highs: Sensex soars 330 points to close at 38,278

Benchmark indices rallied sharply for the second straight day on Monday after investor sentiment improved following the proposed trade talks between the US and China. Gains in index-heavyweights Reliance Industries (RIL) and Larson & Toubro (L&T) propelled the Sensex to a new all-time high and helped the Nifty50 index to close above 11,500 for the first time.

The Sensex gained 330.8 points, or 0.87 per cent, to close at 38,278 — less than 5 per cent shy of the 40,000-mark. The Nifty index rose 81 points, or 0.7 per cent, to settle at 11,551.7.

Most global markets gained on optimism