AIRLINK 201.51 Increased By ▲ 7.95 (4.11%)
BOP 10.17 Increased By ▲ 0.22 (2.21%)
CNERGY 7.68 Decreased By ▼ -0.25 (-3.15%)
FCCL 40.02 Decreased By ▼ -0.63 (-1.55%)
FFL 16.88 Increased By ▲ 0.02 (0.12%)
FLYNG 26.82 Decreased By ▼ -0.93 (-3.35%)
HUBC 132.90 Increased By ▲ 0.32 (0.24%)
HUMNL 14.04 Increased By ▲ 0.15 (1.08%)
KEL 4.70 Increased By ▲ 0.10 (2.17%)
KOSM 6.58 Decreased By ▼ -0.04 (-0.6%)
MLCF 46.65 Decreased By ▼ -0.95 (-2%)
OGDC 212.75 Decreased By ▼ -1.16 (-0.54%)
PACE 6.93 No Change ▼ 0.00 (0%)
PAEL 41.50 Increased By ▲ 0.26 (0.63%)
PIAHCLA 17.10 Decreased By ▼ -0.05 (-0.29%)
PIBTL 8.12 Decreased By ▼ -0.29 (-3.45%)
POWER 9.47 Decreased By ▼ -0.17 (-1.76%)
PPL 182.12 Decreased By ▼ -0.23 (-0.13%)
PRL 41.90 Decreased By ▼ -0.06 (-0.14%)
PTC 24.71 Decreased By ▼ -0.19 (-0.76%)
SEARL 111.30 Increased By ▲ 4.46 (4.17%)
SILK 0.99 No Change ▼ 0.00 (0%)
SSGC 43.75 Increased By ▲ 3.65 (9.1%)
SYM 18.90 Increased By ▲ 1.43 (8.19%)
TELE 8.90 Increased By ▲ 0.06 (0.68%)
TPLP 12.96 Increased By ▲ 0.21 (1.65%)
TRG 67.61 Increased By ▲ 0.66 (0.99%)
WAVESAPP 11.43 Increased By ▲ 0.10 (0.88%)
WTL 1.81 Increased By ▲ 0.02 (1.12%)
YOUW 4.00 Decreased By ▼ -0.07 (-1.72%)
BR100 12,200 Increased By 155.1 (1.29%)
BR30 36,696 Increased By 115.5 (0.32%)
KSE100 114,992 Increased By 953.9 (0.84%)
KSE30 36,151 Increased By 357.1 (1%)

India's NSE index rose the most in more than six months on Thursday, recovering from recent losses, as lenders such as State Bank of India gained on expectation that the government would soon reveal details of a recapitalisation plan.
The broader index closed up 1.22 percent at 10,166.70, in its biggest single-day gain since May 25. The benchmark BSE index ended 1.08 percent higher at 32,949.21 in its biggest single-day rise since November 1.
Reserve Bank of India Governor Urjit Patel said on Wednesday the government would "in coming days" detail how it plans to inject an announced $32 billion into state-run lenders, which was announced in October. Meanwhile, an RBI order mandating banks to lower the merchant discount rate they charge on debit cards did not affect sentiment.
However, broader gains were capped ahead of elections in the western state of Gujarat due this weekend, in a critical test for Prime Minister Modi. Polls indicate a victory for the ruling Bharatiya Janata Party (BJP), but with a greatly reduced majority. Results are due later this month.
"Today is largely seen as a corrective recovery in the market because it had gone into an oversold territory," said Deven Choksey, promoter, KR Choksey. "Markets will now look out for the Gujarat election outcome. There may be some recovery in the markets ahead of the earnings season and the government budget next month," he added.
The indexes had fallen in six of the previous seven sessions. The Nifty PSU bank index gained as much as 1.6 percent, with State Bank of India and Bank of Baroda Ltd rising more than 1 percent each. GAIL (India) Ltd, the top gainer on the NSE index, rose as much as 5.1 percent to a record high.
IRB Infrastructure Developers Ltd slid as much as 6.1 percent after the company said the Central Bureau of Investigation has filed charges against it over alleged illegal purchases of government land.

Comments

Comments are closed.