Mumbai, August 27: The domestic bourses opened on a positive note, owing to firm global cues. The Sensex has crossed 38,500 mark for the first time, rising as much as 358 points. The Nifty hit 11,600 mark. The surge was on the back of the positive global cues. The Asian markets ended on the positive note and it was boosted by record Wall Street highs on Friday after reassuring comments from the Federal Reserve’s chairman.

The gains were led by banking, FMCG, and metal stocks. Major gainers in the Sensex pack were HDFC Bank, Vedanta, Adani Ports, SBI, Tata Steel and Tata Motors. ITC, Larsen & Toubro and SBI. The BSE midcap and the smallcap indices were up around 0.50 per cent.

According to reports, the yuan hit a two-and-a-half-week high against the U.S. dollar in early trade on Monday as the PBOC set the day’s midpoint at a stronger-than-expected level. Last week as well, despite the global trade war tensions, S&P BSE Sensex and NSE Nifty 50 -- rose for the fifth consecutive week and scaled new highs.

(The above story first appeared on LatestLY on Aug 27, 2018 10:38 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).