Market wrap: Rupee breaches 71 a dollar, Sensex, Nifty at all-time highs

Sensex rallied 393.27 points to close at 38645.07, while the broader Nifty rose 123.40 point to finish at 11,680.50

The market gained for sixth consecutive week, with benchmark Sensex rallying 393.27 points to close at 38645.07, while the broader Nifty rose 123.40 point to finish at 11,680.50.
 

Broad-based rally lifted the key indices to muster gains for the week in the midst of August F&O expiry bedevilled by depreciating rupee amid rising crude oil and deficit concerns.
 

The first two days saw the market marking record closing highs supported by favourable global cues bolstered by statement by US Federal Reserve Chairman Jerome Powell's 'gradual approach" on monetary policy tightening.
 

Further, the revival of new US-Mexico trade agreement and subsequent