Yes Bank, IndusInd Bank, ICICI Bank, Titan and Sun Pharma are among top gainers, whereas ONGC, NTPC, BPCL and Coal Indian lead losers . Here are the latest updates from the markets

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 advanced on Friday, extending gains for a thrid day, led by banking stocks. An afternoon rally in US stocks also boosted sentiment despite mixed cues from Asian markets. Stocks in Japan fell, while Sydney, Seoul and Hong Kong saw modest gains. In the US, the the S&P 500 Index erased a drop of almost 3% in its afternoon recovery—the biggest upward reversal since 2010. Oil prices fell over 4%, retreating from an 8% rally in the previous session as the oil market focused on signs of faltering global economic growth and record production of crude.

10.14 am IST
Financial services companies gain on capital infusion plan
Shares of financial services companies surged on the government’s plant to infuse Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds by the end of this month, reported PTI. The recapitalisation, the finance minister said, would enhance the lending capacity of PSBs and help them come out of RBI’s PCA framework.

9.43 am IST
Market update: Sensex, Nifty rise over 0.8%
The BSE Sensex traded 310.24 points, or 0.87%, up at 36,117.52, and the Nifty 50 rose 77.40 points, or 0.72%, to 10,857.20. The BSE midcap and smallcap indices rose 0.46% and 0.54%, respectively. All the sectoral indices on BSE traded in positive territory led by finance, which was up 1%. Capital goods, consumer durables, bankex and basic materials rose over 0.8%.

9.34 am IST
United Bank of India shares jump 11% on govt capital infusion
Shares of United Bank of India jumped as much as 11.4% to Rs 12.85 per share after the government decided to infuse Rs 2,159 crore in the bank as part of Rs 28,615 crore capital infusion to be done in about half a dozen banks.

source: livemint.com