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Sensex closes at another record high; PSU banks rally

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Sensex closes at another record high; PSU banks rally
Benchmark indices rallied once again in trade today with the Sensex closing at another record high of 130 points on expiry for the F&O session.
 

The Nifty ended the day higher by 47 points. Among the gainers in trade today were the PSU banks which fired after Bank of India and Bank of Baroda put in a sterling performance.

At one stage Bank of India rallied as much as 22 per cent after the Bank reported a sharp jump in net profits. Other PSU banks that gained were Syndicate Bank, Canara Bank, Oriental Bank, Allahabad Bank and State Bank of India.

Private sector banks which have been rallying in the past few trading sessions were subdued with Axis Bank, Yes Bank and Indusind Bank closing the day flat.

Heavyweight, Reliance also contributed to gains jumping more then 1 per cent. Other notable gainers from the Nifty were State Bank of India and Sesa Sterlite.

Software stocks also jumped with HCL Tech, Wipro and TCS closing higher. Realty stocks ended the day mixed with DLF gaining ground while other notable gainers were Anant Raj and Unitech.

Dr Reddy's fell after the company's results failed to match expectations.

Metal stocks had another good session in trade with Welspun, NMDC and Sterlite among the gainers.

Shares in Infosys ended the day marginally lower after the company agreed to settle a visa row with the US government.

Meanwhile, most of the Asian markets ended the day lower with the Seoul Composite and The Japanese Nikkei seeing deep cuts.

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