Sensex, Nifty close 1% higher on Tuesday

Posted by on July 10, 2012 in Business | 0 Comment

Sensex, Nifty close 1% higher

The BSE Sensex rallied to its highest close since mid-March led by gains in private sector banks such as ICICI Bank on hopes improving asset quality would lead to better-than-expected earnings in the upcoming reporting season.

Investor sentiment was also boosted by data showing that foreign institutional investors (FIIs) remained buyers of Indian stocks this month, while gains in European stocks also helped.

ICICI Bank (ICBK.NS) shares rose 1.4 percent, while Axis Bank (AXBK.NS) gained 4.1 percent.

The 30-share BSE index. BSESN provisionally ended up 1.3 percent to 17,618.35 points, the highest close since March 15. The broader 50-share Nifty gained 1.33 percent to 5,345.35 points.

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About Sumit Dubey

Sumit earlier was a blogger covering Bollywood news . earlier before joining Reporter Today in February 2012. His Association with this Organization has brought in valued content for our readers.