Sensex, Nifty Gain For Second Straight Session Led By Banks

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The S&P BSE Sensex and NSE Nifty 50 indexes advanced for second session in a row led by strong buying interest in banking and financial services shares. The benchmarks opened higher and extended gains in afternoon trading led by index heavyweights like ICICI Bank, HDFC, HDFC Bank, State Bank of India and ITC. The Sensex rose as much as 597 points and Nifty 50 index moved above its important psychological level of 11,800.

The Sensex ended 504 points or 1.27 per cent higher at 40,261 and Nifty 50 index climbed 144 points or 1.24 per cent to close at 11,814.

Banking shares witnessed strong buying interest for second session in a row. In the last two sessions the gauge of banking shares on the National Stock Exchange – Nifty Bank index – has surged 1,782 points or 7.45 per cent.

In today’s session, eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Bank index’s 3.15 per cent gain. Nifty Financial Services, Auto, Metal, PSU and Private Bank indexes also rose between 1-3 per cent.

On the other hand, real estate, media and IT stocks witnessed selling pressure.

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