Markets rally towards all-time high; Sensex up 413 pts, Nifty rises 125 pts

Benchmark indices post 1%-plus gain for 5th time this month, 8th in CY19

Equity markets rallied sharply on Thursday, with the benchmark Sensex closing only a per cent shy of its new all-time high. 

The benchmark Sensex gained 413 points, or 1.1 per cent, to end at 38,546, while the Nifty rose 125 points, or 1.1 per cent, to close at 11,570. The Sensex has gained over a per cent for a fifth time this month, and eighth time in 2019. 

Hopes of another interest rate cut by the Reserve Bank of India (RBI) fired up banking stocks, with the Bank Nifty climbing to a fresh record high of 30,420. Sentiment was also buoyed by