Bank stocks, global cues power markets; Sensex rallies by 941 pts | Business News
Led by banking stocks, markets rallied on Monday on strong earnings numbers, easing of Middle East tension and fall in crude prices. The benchmark BSE Sensex jumped by 941.12 points or 1.28 per cent to 74,671.28 and the NSE Nifty Index gained 223.45 points or 1 per cent to close at 22,643.40 on strong buying support.
The rally was led by banking stocks with ICICI Bank gaining 4.67 per cent and SBI 3.09 per cent. The BSE Bankex rose 2.7 per cent.
Positive global cues boosted the sentiment as major European markets and the US stock futures rose with investors shifting their focus to the Federal Reserve’s policy decision on Wednesday and US jobs data on Friday.
The rupee declined by 7 paise to close at 83.45 against the US dollar on…
