Sensex up for 2nd day, Nifty reclaims 9100 as bank stocks gain

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Indian shares rose on Friday, although benchmark indexes ended off their day's highs amid caution ahead of a key US vote on healthcare plan due tonight meant to repeal and replace the Affordable Care Act.

At the closing bell, Nifty ended at 9708, with gain of 21 points and BSE Sensex closed at 29421 with increment of 89 points.

Buying was also seen in private lenders, with ICICI Bank trading 3.03 per cent higher and AXIS Bank 0.83 per cent up.

Promising a solution to the growing NPA problem over the next few days, Jaitley said the resolution being worked out with the RBI will put enough pressure on borrowers to settle their dues.

The Sensex touched a high of 29,539.85 points and a low of 29,350.17 points during the intra-day trade.

"Bank stocks gained traction today on expectations of an announcement of a policy for quick settlement of NPAs soon which kept positive vibes in the market", said Vinod Nair, head of research at Geojit Financial Services.

A rising rupee added to the market buoyancy, which closed at 65.41.

The broader markets logged a mixed trend, with the small-cap surging and the mid-cap retreating.

Top gainers in the Sensex-30 pack: ICICI Bank (up 3.3 per cent), SBI (up 2.6 per cent), ITC (up 1 per cent), Reliance Industries (up 0.8 per cent) and Coal India (up 0.8 per cent).

Investors awaited a delayed vote on United States healthcare reform, which is seen as a proxy for the success of Donald Trump's pro-growth agenda, brokers said.

Yes Bank shares were up Rs 16 or 1.05% on BSE, trading at Rs 1532 per share after the bank on Wednesday launched $650 million Qualified Institutional Placement (QIP) issue with an option to upsize to $750 million.

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