BSE Bankex ends higher at 13302.84 - ICICI Bank : Treasury Research

Indian stocks ended in the green today, tracking firm cues from Asian and European peers. Some recovery in the Rupee intraday also aided sentiment. Gains were witnessed across rate-sensitive stocks like banking, realty and capital goods. Meanwhile, the Cabinet Committee on Economic Affairs (CCEA) approved the divestment of government stake in State Trading Corporation of India and India Tourism Development Corporation. The Sensex ended higher at 19,676.06 (+1.98%) and Nifty closed at 5935.10 (+2.04%).

The BSE Bankex ended higher at 13,302.84 (+2.48%). SBI ended higher at INR 1910.15 (+1.74%) while ICICI Bank ended up at INR 1058.10 (+1.91%).

Asian stocks ended the session higher, after dovish comments by Fed Chairman Bernanke helped allay fears of an early tapering of asset purchases by the Fed. Shanghai Composite and Hang Seng rallied 3.23% and 2.55% respectively, buoyed by realty and banking stocks. Australia's ASX rose by 1.31%, aided by gains in financials. Kospi closed higher by 2.93% amidst value-buying by foreign investors. Nikkei also managed to close higher by 0.39%, despite strength in the Yen.

Source : Equity Bulls

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