An employee walks out of the Bombay Stock Exchange (BSE) building in Mumbai August 22, 2013.
Credit: Reuters/Danish Siddiqui/Files
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Reuters Market Eye - The BSE Sensex is trading higher on the back of strong flows from foreign institutional investors (FIIs), who were net buyers of 9.9 billion rupees worth of shares on Friday, according to exchange data. FIIs have bought more than $517 million in equities in the last two trading sessions, even after the U.S. Fed announced last week a long-expected decision to trim its bond purchases.
The BSE Sensex was up 98 points and the Nifty gained 30 points as of 11.06 am.
A range of blue chips lead gainers, with ICICI Bank Ltd (ICBK.NS) up 1.02 percent, Larsen & Toubro Ltd (LART.NS) rises 1.13 percent.
State-run banks also gain on value buying: Canara Bank Ltd (CNBK.NS) advances 4.68 percent, Union Bank of India Ltd (UNBK.NS) jumps 4.15 percent and Punjab National Bank (PNBK.NS) is up 2.99 percent.
United Spirits Ltd (UNSP.NS) is down 2.11 percent after a regional court annuls sale of the Indian spirits maker to British group Diageo Plc (DGE.L).
(Reporting by Himank Sharma)
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