Bank stocks lift Sensex as investors cheer RBI’s tack
The Hindu
Policy stance buoys index by 0.94%
Investors joined industry groups, fund managers and bankers in welcoming the RBI’s growth-supportive monetary policy on Wednesday with a rally in banking stocks lifting the benchmark S&P BSE Sensex. The 30-share Sensex jumped 460.37 points, or 0.94%, to close at 49,661.76. Banks led the gains with State Bank of India climbing 2.25% and ICICI Bank advancing 2.05%. “The momentum [in the market] accelerated post the RBI monetary policy as lot of banking counters started rebounding sharply,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking. “The up move was mainly propelled by the banking space,” he added.More Related News