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Bank shares in limelight
MUMBAI:
The Bombay Stock Exchange benchmark Sensex closed above 14000 mark at 14127.31 on Wednesday after a gap of eight sessions on late buying support and was up by 198 points, led by a sharp rally in banking shares and firm Asian cues. The Lok Sabha passed the State Bank of India (Subsidiary Bank Laws) Amendment Bill, 2006, on Tuesday allowing SBI to reduce its stake in seven subsidiary banks to 51 per cent, which will enable it to raise additional capital to meet new international risk provisioning norms and growth plans.
The 30-share sensitive index (Sensex), opened better at 13949.81 as against Tuesday's close of 13929.33 and improved further to close past the14000 mark at 14127.31, a sharp rise of 198 points. — PTI
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