Indian Stock Markets end higher for second day in succession - ICICI Bank : Treasury Research

Indian stock markets reversed the early session's losses to end the day higher, tracking broad-based gains in global equities. Value buying in oil and gas and banking stocks aided gains in the benchmark indices. Recovery in the Rupee intraday also supported sentiment. Index major RIL's shares rallied after it reported a new deepwater gas discovery in the Cauvery basin. The Sensex ended the session higher at 18,519.44 (+1.13%) and the Nifty closed at 5471.75 (+1.17%).

The BSE Bankex ended higher at 10,791.32 (+1.91%). SBI ended lower at INR 1559.49 (-0.74%) and ICICI Bank ended higher at INR 852.30 (+2.60%).

Asian equities ended mostly higher today as global sentiment remained upbeat, following the release of positive manufacturing-related data prints from US, China and Eurozone yesterday. Nikkei ended higher by 2.21% as a weaker Yen aided gains in exporters' stocks. Kospi ended up by 1.14%, led by a rally in technology shares. Australia's ASX closed higher by 0.94% on the back of gains in financials. Hang Seng and Shanghai Composite, however, closed lower by 0.15% and 0.47% respectively amidst caution ahead of a slew of earnings by major Chinese firms, due next week.

Source : Equity Bulls

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