* The BSE index up 1.03 percent and the NSE index
is up 0.96 percent, ahead of derivatives expiry.
* Bank shares leading the gains on hopes of easing liquidity as
the Reserve Bank of India continues with cash injection measures
and on expectations of a rate cut in January.
* ICICI Bank shares gain 2.32 percent, while State Bank of India
rises 1.6 percent.
* Bharat Heavy Electricals shares gain 1.5 percent,
Larsen & Toubro up 2.2 percent after the government
extended interest rate subsidy for some exporters.
* Reliance Industries shares up 1.2 percent on
reports that a panel appointed by the government to look into
oil and gas exploration contracts had recommended a pricing
formula that could sharply raise the prices of natural gas.