Benchmark indices extended their gains from the morning session, with the Nifty clocking 9950-mark during the day’s trade.
The Sensex was up 173.50 points at 31765.53, while the Nifty was up 63.60 points at 9952.30. The market breadth was positive as 1,448 shares advanced against a decline of 437 shares, while 58 shares were unchanged.
NTPC, Tata Steel, and GAIL were the top gainers on both indices, while Tata Motors, Tata Motors DVR, Hero MotoCorp lost the most.
The sale of stake by few Indian banks in their insurance arms is credit positive for these lenders as the proceeds received would strengthen their loss-absorbing buffers, Moody's said.
Earlier this week, State Bank of India's life insurance subsidiary, SBI Life Insurance, listed its shares on the Bombay Stock Exchange, less than a week after ICICI Lombard General Insurance (ICICI Lombard), the general insurance subsidiary of ICICI Bank did the same.
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