Markets gain seventh straight day; Banks rally on rate cut hope: Markets gained for the seventh straight day led by financials and information technology shares. Banking share rallied after concerns over weak monsoon rains eased while the new proposal presented by Greece to avoid debt default also boosted investor sentiment. The 30-share Sensex ended up 414 points at 27,730 and 50-share Nifty ended up 128 points at 8,353. The Indian rupee firmed up against the dollar and trading higher at 63.42 compared to the previous close of 63.82 tracking strong gains in domestic equities.
Most Asian markets ended with gains while European shares opened sharply higher amid expectations that the debt crisis in Greece would be resolved while merger and acquisitions in the telecom sector also boosted sentiment.
Most Asian markets ended with gains while European shares opened sharply higher amid expectations that the debt crisis in Greece would be resolved while merger and acquisitions in the telecom sector also boosted sentiment.
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