Epic Update ICICI Bank The market extended positive momentum in late morning trade, especially after the Governor Raghuram Rajan said the RBI is closely working with government & SEBI for banks’ balancesheet clean-up. SBI and ICICI Bank rallied 2-3 percent.
The 30-share BSE Sensex rose 130.52 points to 26907.97 and the 50-share NSE Nifty climbed 43.15 points to 8244.20.
The market breadth remained positive as about 1338 shares advanced against 921 declining shares on Bombay Stock Exchange. The Reserve Bank of India has kept repo rate (6.5 percent) and cash reserve ratio (4 percent) unchanged in its monetary policy review.
ITC, HUL, TCS and Sun Pharma also supported the market while HDFC, Reliance Industries, Axis Bank and Infosys limited upside.
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