Nifty trading around 11,450; Sensex up at 38,030.93 pts; Jet Airways tanks 10%

Sensex has stayed over 38,000-pt mark today even as Nifty is trading at around 11,450. Sensex was up 6.56 points or 0.02% at 38030.93 points at 9:15 hrs IST and Nifty was down 6.30 points or 0.05% at 11464.40 points. Around 394 shares advanced, against a decline of 176 shares, while 55 shares were unchanged.

The midcap index is trading flat with a positive bias, while IT and metal stocks are showing some strength. After Jet Airways deferred its results and its audit panel refused approval to its results, the airline's stock tanked 10 percent.

Benchmark Sensex broke past the 38,000-barrier for the first time, while the NSE Nifty extended its record run for the fifth day today as optimism surrounding the India growth story continued to override global trade concerns.

Banking stocks sparkled for yet another session, with ICICI Bank topping the Sensex gainers list. Uninterrupted foreign and domestic fund inflows amid robust corporate earnings show that investor sentiment remains skewed towards equities, brokers said.

Foreign markets were mixed after China announced retaliatory tariffs on US imports. However, Dalal Street shrugged off the latest escalation in the trade showdown between Washington and Beijing, and continued its march upwards.

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The 30-share Sensex breached the historic 38,000-mark yesterday and remained in the green throughout the session. 

It finally finished 136.81 points, or 0.36 per cent, higher at 38,024.37, breaking its previous record close of 37,887.56.