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Domestic stock markets started Friday's session with sharp gains following four days of fall, ahead of the release of the fourth bi-monthly policy statement of the year by the Reserve Bank of India (RBI). 

Domestic stock markets started Friday's session with sharp gains following four days of fall, ahead of the release of the fourth bi-monthly policy statement of the year by the Reserve Bank of India (RBI). 

The S&P BSE Sensex index rose as much as 296.67 points to touch 38,403.54 in the first few minutes of trade, and the broader NSE Nifty index climbed to as high as 11,400.30, up 86.3 points from the previous close.

Gains across most sectors led by banking and financial services shares pushed the markets higher. Analysts awaited the fifth bi-monthly policy statement of the RBI due around noon.