Markets cheerful: Sensex nearing 38,000 mark

New Delhi, March 15: Markets open on buoyant note as Sensex are nearing 38,000 mark. Equity benchmark indices opened higher on Friday following positive cues from global markets, setting away for the longest stretch of weekly gain in over six months.

At 11:15 am, the BSE S&P Sensex was up 244 points to 37,999 while the NSE Nifty 50 was up 76 points at 11,419.Banking, realty, IT, financial services and pharma stocks traded higher by nearly one per cent while FMCG, media and metal were under pressure.

Among the gainers were Kotak Mahindra Bank, IndusInd Bank, ICICI Bank. Coal India, Hindustan Lever and Airtel were in the red on National Stock Exchange. The most active stocks were heavyweights like Reliance Industries, IndusInd Bank, Kotak Mahindra Bank and Yes Bank.