BSE Sensex snaps seven-day losing streak

MUMBAI (Reuters) - The BSE Sensex rose nearly 1 percent on Thursday after seven sessions of losses, as rate-sensitive stocks including lenders surged on the RBI's announcement of open market operations, while easing fears of tapering by the U.S. Fed also helped.

ICICI Bank Ltd provisionally surged 3.7 percent, while HDFC Bank Ltd rose 1.5 percent.

The benchmark BSE Sensex provisionally rose 0.99 percent, while the broader Nifty ended higher 1.12 percent, retracing from their lowest closing levels in more than a month made on Wednesday.

Tata Steel Ltd surged 4.8 percent after the company's second-quarter profit beat expectations, helped by a rise in prices and market share at home.

 

(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)