July 17, 2019 / 5:31 AM / a month ago

Nifty, Sensex gain for third straight day as financials surge

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 26, 2016. REUTERS/Shailesh Andrade/Files

BENGALURU (Reuters) - Indian shares closed higher for the third straight day on Wednesday, boosted by gains in financial stocks, with top lender State Bank of India (SBI) clocking a record closing high.

Twenty-eight of the 50 stocks on the broader NSE Nifty fell, but gains in large cap stocks helped the bourse close up 0.21% at 11,687.5. The benchmark BSE Sensex settled 0.22% higher at 39,215.64.

Property finance firm Indiabulls Housing Finance Ltd topped the gains on the NSE Nifty, closing 3.4% higher. Troubled peer Dewan Housing Finance Corporation Ltd ended up 11.2%.

SBI, India’s largest lender by assets, climbed 2.2%, driving the Nifty PSU Bank index 1.1% higher.

Yes Bank Ltd slumped 5.3% ahead of its quarterly results and was the biggest loser on the indexes, while automaker Eicher Motors Ltd dropped 3.2%.

Reporting by Chris Thomas in Bengaluru; Editing by Rashmi Aich

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