Sensex gains for 2nd day, ICICI rallies

SENSEX-GAINS-FOR-2ND-DAY-ICICI-RALLIES:Sensex gains for 2nd day ICICI rallies

singapore  July 30, 2012, 10:18 IST

Reuters Market Eye -The Sensex gains 1.1 percent, while the Nifty advances 1.1 percent, heading for their second consecutive session of gains, tracking a rally in Asian shares.

ICICI Bank rises 3.5 percent, extending gains after posting on Friday better-than-expected April-June earnings.

State Bank of India gains 1.4 percent on bargain hunting after dropping 3.8 percent on Friday when state-run lenders dropped on concerns about a rise in bad assets compared to the private sector.

Other blue chips also gain: Infosys adds 1.8 percent while Larsen & Toubro rises 2 percent.

Provisional exchange data showed foreign investors bought stocks worth 5.6 billion rupees on Friday, a relief from their three consecutive days of selling till Thursday.