The Sensex and the Nifty rallied further in trade reconquering the 28,000 points mark. The Sensex hit the 28,000 mark before trading at 27,967 points. Leading the set of gainers from the Sensex and the Nifty were stocks from the FMCG sector with stocks like Godrej, ITC and Jubilant leading gainers.
PSU banking stocks which had rallied sharply over the last one week on anticipation of reforms at the 2-day Gyan Sangam meet saw profit booking and stocks from the sector declined. Leading the set of losers from the sector were stocks like Andhra Bank, Syndicate Bank and Punjab National bank.
Shares in Asian Paints, Larsen and Toubro and Axis Bank were the early gainers in trade. Hero Motor Corp and ICICI Bank also gained ground in trade.
Shares in South Indian Bank gained after reports that ICICI Prudential Balanced Fund bought shares of South Indian Bank at Rs 30.50 on the BSE.
Meanwhile, markets across Asia were trading with losses led the Japanese Nikkei and the Shanghai Composite.