Nifty rises 1 percent; banks rally on banknotes action
REUTERS - The NSE Nifty gained 1.1 percent on Thursday as lenders rallied on hopes their coffers would swell with people starting to exchange higher-denomination notes after the government removed the old ones from circulation.
Sentiment also got a boost as global shares recovered from Wednesday's steep falls in the aftermath of Donald Trump's election as U.S. president.
The broader Nifty closed up 1.11 percent at 8,525.75, while the benchmark Sensex closed 0.97 percent higher at 27,517.68.
The Nifty bank index rose as much as 3.92 percent to its highest in two months.
(Reporting by Darshana Sankararaman in Bengaluru; Editing by Subhranshu Sahu)
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