BSE Sensex gains, banks rebound; Shree Renuka falls

Reuters Market Eye - The BSE Sensex and Nifty rise nearly 1 percent, heading for their fifth gain in the last six sessions.

Banks lead the gains, recovering from falls on Thursday sparked by weaker global shares. State Bank of India gains 1.5 percent on value buying after the stock fell more than 2 percent in the previous session. ICICI Bank gains 2 percent.

A survey showing brisk U.S. manufacturing activity gave Asian stock markets a lift on Friday and bolstered the dollar.

But Shree Renuka Sugars slumped 6 percent on fears of equity dilution after Singapore's Wilmar International said on Thursday it agreed to invest up to $145 million for a major stake in the company.

 

Overseas investors bought Indian shares worth 2.06 billion rupees on Wednesday, extending their buying streak to a seventh consecutive session, provisional exchange data shows.

(Reporting by Indulal PM)