Sensex gains; private banks lead

Last Updated: Tue, Jan 01, 2013 07:44 hrs

The BSE index gains 0.72 percent while the NSE index is up 0.7 percent.

Traders say gains track optimism after Wall Street rallied on Monday as U.S. lawmakers closed in on a deal to avoid a budget crisis that many fear could cripple the world economy in 2013.

U.S. President Barack Obama said Congress was close to an agreement that would start chipping away at the deficit without raising middle-class taxes.

Private banks such as ICICI Bank gains 1 percent, while HDFC Bank is up 0.8 percent on hopes of rate cut by RBI by January end.

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