Sensex gains around 200 points; ICICI up 5 percent

Reuters Market Eye - The BSE Sensex is up around 200 points, while the Nifty has gained more than 50 points. Private banks continue to gain for a second day after banking stocks saw their biggest single-day gains in over 4 years on Thursday after the Reserve Bank of India raised overseas borrowing limits for lenders as part of a slew of measures unveiled by new Governor Raghuram Rajan.

ICICI Bank Ltd rises 4.6 percent, while IndusInd Bank is up 0.5 percent.

IT shares recover from a bout of profit-taking on Thursday. Infosys Ltd gains nearly 2 percent, while Tata Consultancy Services Ltd is up 0.5 percent.

 

However, Sesa Goa Ltd falls as much as 5.9 percent as the lock-in period related to its merger with Sterlite Industries (India) Ltd ended as of the close of trade on Thursday.

The BSE Sensex and the Nifty rose nearly 1 percent at 1217 IST.