New Delhi, April 16 -- Benchmark stock market indices Sensex and Nifty extended gains to record highs today, led by private banks such as ICICI Bank and IndusInd Bank and IT heavyweight TCS. The Sensex rose as much as 391 points to hit a new high of 39,297. Broader benchmark index Nifty also hit a fresh high of 11,795, rising 0.90%. Banking stocks led the gains with Nifty Bank index rising 1.3%. Earnings, investment flows and elections are likely to be the key drivers for Indian markets this truncated week. Indian markets would remain closed on Wednesday and Friday for Mahavir Jayanti and Good Friday. Voting for the second phase of Lok Sabha elections will take place on April 18. The global cues remain positive with Asian and European marke...