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The BSE Sensex rose nearly one per cent on Thursday to close at its highest in 1-1/2 months after Axis Bank surged on better-than-expected June-quarter results, sparking a rally in other banking stocks as well.
The BSE Sensex rose 0.9 per cent, or 179.68 points, to end at 20,128.41, marking its highest close since May 30.
The Nifty rose 1.08 per cent, or 64.75 points, to end at 6,038.05, clocking a second consecutive session of gains.
Private-sector lender Axis Bank rose 3.7 per cent after posting a higher-than-expected 22.5 per cent increase in quarterly net profit, helped by higher interest income, and a marginal increase in bad loans. The results lifted shares of other banks, with HDFC Bank and YES Bank rising 3.2 per cent each.
