Monday, January 24, 2011

Banks lead BSE rally on Q3 results

STAFF WRITER 16:37 HRS IST

Mumbai, Jan 24 (PTI) Strong third quarter results posted by top banks SBI and ICICI pushed up the BSE benchmark Sensex by about 144 points to 19,151.28, despite mixed global trends, sustained capital outflows and fears that RBI may hike key rates to tame inflation in monetary policy review tomorrow.

The country's largest public sector lender State Bank of India (SBI) closed 3.66 per cent up and was the top gainer from the Sensex pack, after having posted 14 per cent jump in Q3 net profit, which was above market expectations.

Biggest private sector lender, ICICI Bank, too notched smart gain of 1.69 per cent as its Q3 net profit jumped 30.51 per cent.

As a result, other banking stocks like Yes Bank, BoB, Union Bank, Axis Bank, PNB and Indusind Bank also closed with rise in the range of 2.56 to 5.05 per cent.

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