Sensex jumps 200 points; ITC, L&T and bank stocks gain

Sensex jumps 200 points; ITC, L&T and bank stocks gain
Mumbai:

The Sensex and Nifty are up around 1 per cent led by gains in stocks like ITC and L&T (Larsen & Toubro). Bank shares gained after underperforming the 50-share National Stock Exchange Nifty in recent days on concerns over provisioning against restructured assets.

ICICI Bank rose 1.8 per cent, and the State Bank of India was up 1.4 per cent.

The Indian market gains are in line with Asian shares that advanced with returning risk appetite on Friday as data suggested some stabilisation in the global recovery trend, particularly in the United States and China.

Wipro  shares were up 1.8 per cent after reporting a 24 per cent rise in September quarter profit at Rs 1,611 crore, beating estimates.

Copyright: Thomson Reuters 2012