Sensex soars 331 points to finish at new closing high of 38,279; Nifty above 11,550

The indices touched fresh highs buoyed by gains in Larsen & Toubro following a buyback proposal, while financials rose. L&T, Tata Motors, ONGC and Tata Steel were among the major gainer on the 30-share BSE index with their stocks rising as much as 6.74 per cent.

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