Sensex, Nifty recover on banking stocks
The Hindu
An improvement in banking indices on Thursday led to key benchmark indices of BSE and NSE close with gains.
With the S&P BSE Bankex gaining 132.86 points, or 0.30%, to 44,356.71 points, the S&P BSE Sensex gained 78.94 points, or 0.14%, to close at 57,634.84.
Similarly, the Nifty Bank index of the NSE gained 81.10 points, or 0.21%, to end the day at 39,132.60. This helped the NSE Nifty-50 index to close with gains of 13.45 points, or 0.08%, to close at 16,985.60.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. said, “Markets reversed the downward trend to end with modest gains as a major rebound in the stock of the troubled financial company Credit Suisse provided some hopes to traders after the Switzerland government stepped into support the financial giant. Indian markets outperformed its Asian peers after buying in financials, oil & gas, power and realty stock led the recovery.”
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