Markets continue pre-election rally, Sensex closes above 38,000

New Delhi: Markets continued their winning spree for the 5th straight day on Friday while the Sensex closes above 38,000 and Nifty above 11,400.

The BSE Sensex closed 269.43 points or 0.71 percent higher at 38,024.32 while the NSE Nifty jumped 83.60 points or 0.74 percent at 11,426.85.

The 30-share index touched a high of 38,254.77 and low of 37,760.23 intra-day, while Nifty swung between 11,487.00 and 11,370.80.

Major gainers in the Sensex pack were Kotak Bank, ONGC, Power grid, TCS, NTPC, SBI, HCL, ICICI Bank, Bajaj Finance, Infosys, L&T and HDFC Bank, rising by upto 4.31 percent.

Bucking the trend, Asian Paint, Tata Steel, Sun Pharma, Heromoto Corp, Axis Bank, Reliance, ITC, Bharti Airtel, Yes Bank and HUL ended in red, falling by upto 2.23 percent.

FIIs were a net buyers worth Rs 1,482.99 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 817.77 crore, provisional data available with BSE showed.