Indian share prices closed 0.61 percent higher on Thursday in volatile trade led by banks on sustained interest in the ICICI share offer, dealers said. They said investors locked-in gains during the day but the market bounced back in late trade.
The 30-share Sensex index rose 87.29 points to 14,499.24. "The markets were volatile as investors were keen to lock-in gains. We expect the markets to remain choppy in coming days," said Advait Date, a dealer with brokerage BHH Securities.
The local portion of ICICI Bank's 4.3 billion dollar share sale was oversubscribed by nearly four times by the third day, bankers to the issue said, indicating strong demand from funds.
In India, the bank plans to raise up to 2.15 billion dollars through the offer and an equal amount through American Depository Receipts for a total of 4.3 billion dollars. The offer in both countries closes Friday.
Comments
Comments are closed for this article.