Closing update- Sensex, Nifty settled with solid gains as various measures taken by the govt to spur economy, including capitalization of PSU banks and colossal road building program boosted sentiment. The BSE Sensex jumped 435.16 points at 33,042.50, while the Nifty 50 index rose 87.70 points at 10,295.40.as per closing data. The market gained for the third consecutive day.
The Sensex settled beyond the psychologically significant 33,000 level after crossing that landmark for the first time in history. Global stock markets stability has also supported gains on the Exchanges. SBI, ICICI Bank, Axis Bank and L&T were top gainers whereas Kotak Bank and HDFC Bank were losing sheen.
PSU banks picked up momentum after cabinet approved public sector bank capitalization plan of Rs 2.11 lakh crore over 2 years. Among PSU bank stocks, UCO Bank went up 19.87%, Syndicate Bank rose 16.61%, PNB spurta 49.57%, Bank of India jets 33.14%, Allahabad Bank rose 22.48%, Bank of Baroda went up 28.54%, SBI up 26.58%, Union Bank of India up 33.99%, Canara Bank rose 38.1%, Corporation Bank rose 19.92% and United Bank of India jumps 7.97%.
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BUY BHARTIARTL ABOVE 518 TARGETS 523, 528, 533 STOPLOSS 508
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