India Banking Stock Index gains 4%

Indian stock market closed today with good gains particularly in the banking space. The market did not show any sign of weakness inspite of it being a friday and it also shrugged off the higher inflation number reported today.

Among the top performers of the banking stocks were the Indian banks including ICICI Bank, Federal Bank, Karnataka Bank and Kotak Mahindra Bank. Bankex moved up by 3.6%.

For the day Sensex closed at 17600 while the NSE index NIFTY was up at 62 points to close at 5228 with 1480 shares advancing against 1393 shares that declined while 208 shares stayed unchanged.