Bank rally lifts markets to three-month high; Sensex, Nifty climb over 7%

Most global markets traded in the green on Friday after the yield on 10-year US Treasury softened to 2.97

The Indian markets on Friday climbed to their highest level in nearly three months, led by sharp gains in banking stocks on optimism that the worst of the bad loan cycle was over. 

A rally in global equities amid softening US bond yields and improvement in ties between North Korea and South Korea boosted investor sentiment.

The Sensex gained 256 points, or 0.74 per cent, to close at 34,969, while the broader Nifty closed 74.5 points, or 0.7 per cent, higher at 10,692. Both indices closed at their highest level since February 2 and less than 4 per cent shy