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Markets bank on SBI to bounce back from lows
Key equity index, the BSE Sensex, today staged a dramatic comeback after the country’s largest bank, State Bank of India (SBI), announced a jump of nearly 200 times in fourth-quarter net profit. The 30-share Sensex gained nearly 400 points from intra-day low levels to close at 16,152. Stock brokers turned optimistic on banking shares after SBI made a pitch to global rating agencies for an upgrade.
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