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The
Indian Share market extended rally in morning trade with the Sensex rising
368.43 points or 1.42 percent to 26332.40 and the Nifty climbing 114.65 points
or 1.45 percent to 8013.80. The rupee, too, gained further, up 42 paise to
66.02 a dollar. The BSE Midcap and Smallcap indices jumped more than 1 percent
as about 1339 shares have advanced against 311 shares declined on the Bombay
Stock Exchange.
Banks are leaders in rally with the Bank Nifty up 500 points, especially after media report indicated that the government is considering increasing foreign direct investment (FDI) limit in private banks to 100 percent. HDFC Bank, ICICI Bank and Axis Bank jumped 3-4 percent. HDFC was up 2 percent and SBI gained 3 percent.
Bank stocks are outperforming. Axis Bank, ICICI Bank, SBI, Lupin and Hero are top gainers while Tata Motors, GAIL, HUL, Bharti Airtel and Dr Reddy's Labs are losers in the Sensex. India's Tata Steel Ltd will sell shares in automaker Tata Motors Ltd worth up to $188 million, according to a term sheet of the deal seen by Reuters on Friday.
Banks are leaders in rally with the Bank Nifty up 500 points, especially after media report indicated that the government is considering increasing foreign direct investment (FDI) limit in private banks to 100 percent. HDFC Bank, ICICI Bank and Axis Bank jumped 3-4 percent. HDFC was up 2 percent and SBI gained 3 percent.
Bank stocks are outperforming. Axis Bank, ICICI Bank, SBI, Lupin and Hero are top gainers while Tata Motors, GAIL, HUL, Bharti Airtel and Dr Reddy's Labs are losers in the Sensex. India's Tata Steel Ltd will sell shares in automaker Tata Motors Ltd worth up to $188 million, according to a term sheet of the deal seen by Reuters on Friday.
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