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Sensex, Nifty Extend Gains For Fifth Day

Indian shares rose for a fifth straight session on Friday, with banking and IT stocks leading the surge.

The benchmark 30-share BSE Sensex jumped as much as 450 points at open point before giving up some gains to end the session up by 269.43 points or 0.71 percent at 38,024.32.

The broader Nifty index also ended off the day's high at 11,426.85, up 83.60 points or 0.74 percent from its previous close.

Wipro, Power Grid Corp, HPCL, IOC and Kotak Bank rallied 3-5 percent in the Nifty pack, while Bharti Airtel, ITC, Reliance Industries, Yes Bank and Hindustan Unilever dropped 1-2 percent.

The rupee was trading near the day's high at 69.11 per dollar in the afternoon amid sustained foreign fund inflows.

Globally, Asian markets finished broadly higher after U.K. lawmakers backed delaying the Brexit process and Chinese Premier pledged support for the slowing economy during his annual news conference at the end of the National People's Congress.

European stocks were moving higher in early trade. Investors ignored a fresh flare up in U.S.-China trade tensions after U.S. President Donald Trump said he was in no rush to complete a trade pact with China.

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