Domestic stock markets started Friday's session on a higher note tracking positive global cues amid unabated foreign fund inflow and strengthening rupee. The S&P BSE Sensex rose as much as 265.53 points to touch 38,020.42, while the Nifty50 barometer of the National Stock Exchange (NSE) surged by 83.45 points to hit 11,426.70. The gains on Dalal Street were led by buying in banking and financial stocks. Heavyweights Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Reliance Industries and SBI contributed the most to the advances on Sensex.