Markets upbeat amid hopes of a rate cut, Nifty reclaims 11K after 4 months

Foreign portfolio investors bought shares worth Rs 694 crore and domestic institutional investors bought shares worth Rs 525 crores

Benchmark indices rose for a fifth straight session on Monday on hopes of a rate cut by the Reserve Bank of India (RBI) and supported by positive global cues.

The Nifty reclaimed the 11,000-mark for the first time since October 1. The 50-share index ended the session 11,062, gaining 1.2 per cent over its previous close. The Sensex gained 358 points, or 0.98 per cent, to close at 36,975. The index touched an intra-day high of 37,005.

Strong buying by both domestic and foreign institutional investors was seen on Wednesday. Foreign portfolio investors bought shares worth Rs 694 crore and