Tuesday, 24 January 2017

Sensex rises for second day; banks gain

Indian shares rose for a second consecutive session on Tuesday, as banking shares such as HDFC Bank gained ahead of results later in the day, while sentiment got a boost on optimism ahead of the annual budget to be unveiled next week. The Supreme Court on Monday rejected a petition to delay the annual federal budget, which Finance Minister Arun Jaitley is scheduled to deliver on Feb. 1, dismissing concerns about potential giveaways ahead of critical state polls.

Analysts are hoping for a budget that delivers some incentives to support an economy that has been hit by India's shock move to ban higher-value banknotes.

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