Private banks gain on rate cut hopes: Sensex up 145 points
Shares of private banks such as ICICI Bank and HDFC Bank rose following the news of the Spanish banks bail out by eurozone finance ministers
The Sensex and Nifty gained around 0.8 percent, after notching five consecutive daily gains last week.
Domestic shares also track a global rally after the eurozone finance ministers agreed on an aid package for Spanish banks.
[caption id="attachment_338805" align="alignleft" width="380" caption="ICICI bank rises 2 percent, while HDFC Bank advances 1 percent. Reuters"]
[/caption]
The advance is being led by gains in banking stocks on continued rate cut expectations, and after the central bank announced on Friday a surprise open market operation of Rs 120 billion.
ICICI bank rose 2 percent, while HDFC Bank advances 1 percent on BSE.
Reuters
