Sensex Closes Above 28,000 points; SBI Rallies Post Results

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The Sensex and the Nifty ended the day higher led by a strong rally in banking stocks after State Bank of India reported numbers that beat expectations.

The Sensex ended the day higher by 106 points, while the Nifty ended the day higher by 32 points. Coal India and Tata Steel were among the other gainers in trade.

Sensex Closes Above 28,000 points; SBI Rallies Post Results
Pharma stocks saw some profit booking after the sharp rally witnessed in the last few trading sessions with Dr Reddy's and Sun Pharma falling. India's largest real estate players, DLF saw a good recovery after the company's results beat expectations.

Mid cap stocks also saw some sharp gains with Bata India and Jubilant Foodworks among the gainers.

Meanwhile, markets across Europe were trading marginally lower, while most of Asia ended the day flat.

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