Sentiment was buoyed after the IMF said India will be a source of growth for the global economy for the next few decades and it could be what China was for the world economy, even as it suggested more structural reforms.
Sensex crosses 38,000 for the first time
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally, brokers said. Encouraging first quarter earnings and mixed trend in global markets, with US stocks approaching fresh all-time highs, too bolstered sentiment, they added.
With agency inputs