Sensex, Nifty close near 2-week high, banks biggest gainers

The BSE Sensex and the Nifty rose for a third consecutive session to their highest closing levels in nearly two weeks on Tuesday, as a rally in debt markets boosted banks, the biggest holders of bonds, while broader sentiment remained underpinned by global factors.

State Bank of India provisionally rose 3 percent while ICICI Bank Ltd ended 0.9 percent higher.

The Sensex provisionally rose 0.13 percent, while the Nifty ended higher 0.23 percent, marking their highest close since Nov 6.

[caption id=“attachment_1168099” align=“alignleft” width=“380”]  The short-term uptrend would be under threat only if the Nifty falls below the recent swing low of 5,700.[/caption]

About 1282 shares advanced, 1196 shares declined, and 159 shares were unchanged.

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Jindal Steel and Hindalco gained over 4 percent each while Maruti and SBI ended with more than 3 percent gains. Other gainer in the Sensex was Bharti Airtel . Top losers in the Sensex are Sesa Sterlite, HDFC Bank , Coal India , TCS and Wipro .

The rupee continued to strengthen, trading around 62 per dollar mark A Finance Ministry-RBI panel discussed a 49 percent cap for FII investment. However finance ministry opposed the proposal saying it will impact market sentiment.

Agencies