Brokers said besides selective purchases by cautious investors, sustained foreign fund inflows influenced the sentiment.
Banking stocks gained after government cut its additional market borrowing requirement by more than half for the fiscal year ending in March to Rs 20,000 crore, Economics Affairs Secretary S.C. Garg said on twitter. The news sent benchmark 10-year bond yields down over 15 basis points.
Last month, the finance ministry had said that the government is likely to borrow additional 500 billion rupees ($7.79 billion) in 2017/18 fiscal year that ends in March.
Among the banking stocks, ICICI Bank, Axis Bank and SBI also rose around 1 per cent. Among Asian markets, Hong Kong Hang Seng moved down 0.51 per cent, while Japan's Nikkei shed 0.43 per cent in early trade today. Shanghai Composite Index too inched lower by 0.01 per cent.
The US Dow Jones Industrial Average ended 0.04 per cent lower in yesterday's trade. (With Agency Inputs)
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