August 23, 2017 / 6:44 AM / 2 months ago

Indian shares rise; banks gain

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, June 29, 2015. REUTERS/Danish Siddiqui/Files

(Reuters) - Indian shares extended early gains to end higher on Wednesday, boosted by banking stocks after the cabinet approved a mechanism to oversee consolidation in public sector banks.

The benchmark BSE Sensex closed up 0.88 percent at 31,568.01. The broader NSE Nifty ended 0.89 percent higher at 9,852.5. Both the indexes recorded gains for a second straight session.

The Nifty PSU Bank index closed 2.09 percent up.

Reporting By Arnab Paul in Bengaluru; Editing by Vyas Mohan

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