Sensex at highest since mid-April, SBI gains

SENSEX-SBI-PNB-BANKS:Sensex at highest since mid-April, SBI gains

The BSE Sensex edged higher on Wednesday, enough to notch its highest close since April 19, led by government-owned lenders such as State Bank of India as traders said valuations were trading at a discount relative to their private rivals.

SBI rose 1.9 percent, while Punjab National Bank rose 2.2 percent.

The 30-share BSE index provisionally rose 0.16 percent to 17,453 points.

The broader 50-share Nifty rose 0.28 percent to 5,302.55 points.