Banks lead BSE rally on Q3 results; Sensex up 144 pts

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

The country''s largest public sector lender State Bank ofIndia (SBI) closed 3.66 per cent up and was the top gainerfrom the Sensex pack, after having posted 14 per cent jump inQ3 net profit, which was above market expectations.

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

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

Other interest-rate sensitive stocks like consumerdurables, auto and realty also attracted good buying.

However, marketmen said they expected a hike of at least0.25 per cent in the key policy rates in the Reserve Bank''squarterly policy review tomorrow to tame rising inflation,which is above RBI''s comfort level.

The Bombay Stock Exchange 30-share barometer today closedup by 143.75 points or 0.76 per cent at 19,151.28 and the NSE50-issue Nifty also firmed 46.75 points or 0.82 per cent to5,743.25. .

Please Wait while comments are loading...