Sensex reclaims 38,000 as FPIs increase buying; rupee ends at 7-month high

The Sensex has now gained 14 per cent from its lows in October 2018

The benchmark Sensex reclaimed the 38,000-mark on Friday, while the rupee closed at a seven-month high against the US dollar on the back of accelerated buying by foreign investors. Foreign portfolio investors (FPIs) bought shares worth Rs 4,323 crore on Friday. 

Global funds have pumped in over Rs 38,000 crore (about $5.5 billion) into domestic equities since February 20, helping the Sensex rebound 2,671 points, or 7.6 per cent, from its 2019 low.

After gaining as much as 500 points, the Sensex ended 269 points, or 0.71 per cent, higher at 38,024, while the Nifty50 climbed 84 points, or 0.74 per cent,