Sensex rises 151 points as PSU banks shine

Sensex rises 151 points as PSU banks shine
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New Delhi, Dec 13 The benchmark indices ended higher on Thursday led by gains in public sector banks and automobile stocks.
The S&P BSE Sensex ended at 35,930, up 151 points or 0.4 per cent, while the broader Nifty50 index settled at 10,792, up 54 points or 0.5 per cent.
In the broader market, the midcap and small-cap indices outperformed their benchmark peers with the S&P BSE MidCap index ending 123 points or 0.8 per cent higher at 15,164, while the S&P BSE SmallCap settled at 14,498 levels, up 94 points or 0.7 per cent.
Among the sectoral indices, the Nifty PSU Bank index rose 1 per cent led by Indian Bank, State Bank of India (SBI) and Vijaya Bank as the newly appointed Reserve Bank of India (RBI) Governor Shaktikanta Das held a meeting with heads of the public sector banks. The Nifty Auto index, too, rose nearly 1 per cent led by Maruti Suzuki and Tata Motors.
Shares of YES Bank fell 6.3 per cent to Rs 175 apiece on the National Stock Exchange (NSE) after the private sector lender said it is yet to finalise the name of MD & CEO. The bank held board meeting during the day where it finalised a part-time non-executive Chairman and said the final recommendations with respect to MD & CEO will be submitted to the Reserve Bank of India (RBI) after January 9, 2019.
Global Markets
Asian equity markets rallied on Thursday on signs of easing Sino-US trade tensions and expectations that China will step up efforts soon to support its cooling economy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8 per cent, building on early gains made after British Prime Minister Theresa May survived a no-confidence vote.