Equity indices close 2 pc higher, banking stocks lead rally

Equity indices close 2 pc higher, banking stocks lead rally

Equity benchmark indices shrugged off border tensions between India and China and closed 2 per cent higher on Thursday with banking and financial stocks leading the rally.

The BSE S and P Sensex closed 700 points or 2.09 per cent higher at 34,208 while the Nifty 50 edged higher by 211 points or 2.13 per cent at 10,092.

All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty financial service up by 3.5 per cent, private bank up by 3.4 per cent, PSU bank by 2.7 per cent and metal by 2.9 per cent.

Among stocks, Bajaj Finserv was the top gainer after moving up by 8.2 per cent to Rs 5,451 per share.

Bajaj Finance too surged by 5.5 per cent while State Bank of India ticked up by 4 per cent.