Sensex trading higher; banks gain

Reuters Market Eye - The BSE Sensex gains 0.24 percent, while the broader Nifty is trading 0.32 percent higher.

The BSE Sensex and Nifty earlier rose as much as 0.7 percent to record highs for the fifth straight session on continued buying by foreign institutional investors.

Banking shares lead gains with State Bank of India surging as much as 3.3 percent as state-run banks extend a recent rally after the Reserve Bank of India on Thursday extended the deadline for banks to implement Basel III capital rules by a year.

Technology shares also trading higher after Accenture on Thursday raised its full-year profit forecast and the lower end of its revenue forecast.

 

Overseas investors bought Indian cash shares worth $364 million and equity derivatives worth the same amount on Thursday despite derivatives expiry.

(Reporting by Indulal PM)