Sensex surges 424 points to close at 38,233; Nifty above 11,480

On the BSE index, SBI, Vedanta, Reliance Industries, NTPC, Yes Bank and Bajaj Finance were among the major gainers with their stocks surging as much as 3.81 per cent. On NSE, except for Nifty IT, all other sub-indices finished in green Nifty PSU Bank and Private Bank surging the most, up as much as 3.13 per cent.

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