Markets Get Global Boost, Sensex Rises 286 Points

Markets ended on an optimistic note following positive news from the European Union, Greece's dry, and gains in bank shares after the Axis Bank announced better than expected results.

Nifty open green and moved steadily higher in 5577, supported front-line bank shares rally - Axis Bank, ICICI Bank and Punjab National Bank. 5642 index touched the highest in the afternoon and ended near days high 92 points to 5634. Concentrated in the SENSEX 286 points 18 722

Going forward, the markets will take cues Reliance Industries earnings on Monday and the Reserve Bank of India's tight Tuesday. Economists expect the RBI to break the cycle of high interest rates when it meets Tuesday, after raising prices by another 25 bps. The government has raised interest rates ten times in the past year, including high inflation.

On the global front, pepped European Union, the other for dry Greek $ 1570000000 up the risk in equities and indices of appetite notch a total of more than 1% growth in Asia. Japan's Nikkei Stock Average of 1.2%, jumped Hong Kong's Hang Seng index 2.1% and China's Shanghai Composite rose 0.2%.

Back in India, banking sector, investors got shares in Axis Bank announced a rise of 27%. Net income advanced Rs 942 crore in the quarter compared with Rs 742 crore last fiscal. Net interest income reported at Rs 1724 crore. Stock concentration of 5% after the results at the end of Rs 1296th

Axis Bank announced better than expected results prompted interest in buying shares in other banks including Union Bank, up to 5%, Yes Bank and ICICI Bank up 3.7% to 2.6%, pulling the BSE Banking index up 2.2% .

Among individual stocks, ended Bharti Airtel at Rs 411, 4%, after touching 52 weeks max Rs 412 after reporting 20% ​​hike in tariffs from 1 Paisa Paisa 1.2 per second, some circles.

Reliance Industries rose 1.5% to Rs 873 on expectations of a cabinet nod for RIL-BP (British Petroleum) deals worth $ 7200000000th Meanwhile, oil and gas conglomerate is expected to report a 15% increase in net profit of Rs 5,600 crore, driven of sales growth of 29% in June.

Rate sensitive auto stocks were also among the top gainers, index advanced 1.7%. Mahindra & Mahindra was up 3%, 2.6% were Ashok Leyland and Tata Motors added 2.2%.

Top gainers on the SENSEX was Reliance Communication to 3.4%, Infosys received 2.1% and 2% concentration of Bajaj Auto. Only three components of the SENSEX ended in red on the DLF fell 0.4%, Hindalco Industries slipped 0.3% and Jindal Steel fell 0.1%.

From a broader market rose 1.3% MidCap and SmallCap index added 0.2%.

Market breadth was positive, 1,715 shares advanced, 1188 shares that declined.