Private banks, Reliance Industries help Sensex past 38,000 mark

RIL, ICICI Bank, Axis Bank, HDFC Bank, Kotak Mahindra Bank, Bajaj Finance, and Asian Paints were up 6% to 20% from their respective September 14, 2018 levels

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Pictures credit: Kamlesh Pednekar

Banking shares, mainly of private lenders, along with Reliance Industries (RIL), have helped the benchmark S&P BSE Sensex reclaim the crucial 38,000 levels after six months. The S&P BSE Sensex hit 38,146 on Friday in intra-day trade, its highest level since September 14, 2018, on back of strong buying by the foreign portfolio investors (FPIs). With today’s gain, the benchmark index has rallied 7.8 per cent, or 2,752 points, from the 2019 low of 35,353 on February 19. FPIs have pumped in net amount of Rs 30,537 crore during the same period, Sebi data ...