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Indian shares rise as bargain hunters swoop up bank stocks
- By Reuters |
- bigstories
BENGALURU - Indian shares rose in volatile trading on Wednesday as investors sought bargains in beaten-down banking stocks, while Axis Bank gained after a report said private equity group Carlyle was in discussions with the lender for a fund infusion. The Nifty banking index <.NSEBANK> rose 2.5%, with Axis Bank <AXBK.NS> advancing 5% and heavyweight ICICI Bank <ICBK.NS> gaining 4%. The index lost 8.3% last week and is down 44% so far this year as the sector, already under pressure from over $100 b...
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