The Sensex and Nifty saw a considerable rise today, heading for their fourth session of gains, as lenders advanced on hopes of stable asset quality after ICICI Bank's positive outlook and a reduction in bad loans at some of the state-run banks. Gains were pretty broad-based, with the BSE MidCap index hitting a record high for a second consecutive session at 11,392.69.
The moderation in formation of new stress loans, coupled with Finance Minister Arun Jaitley's plan to infuse nearly $2 billion into state-run lenders, helped the Bank Nifty gain as much as 1.4 percent. ..........................(News Source- Reuters)
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