MARKET EYE-Indian shares gain nearly 1 pct; banks lead

Mon Sep 2, 2013 10:05am IST

* The benchmark BSE index gains 1.1 percent, heading
for a fourth session of gains, while the broader NSE index
 is up 0.98 percent.
* Asian shares climbed to a two-week high on Monday, and the
Australian dollar and copper gained, as China said its
manufacturing expanded in August at the fastest pace in more
than a year. 
* Banks gain on hopes of potential reversal of RBI's liquidity
tightening measures announced in July, dealers say.
* Axis Bank Ltd is up 1.8 percent and ICICI Bank Ltd
 gains 0.94 percent.
* Lupin Ltd gains 2 percent on hopes of a key drug
launch later in the month, analysts say.
* Rupee on watch as India is seeking support from other emerging
market countries for coordinated intervention in offshore
foreign exchange markets after a currency rout the past three
months, but at least one critical partner, Brazil, said it is
not involved in such planning at this time. 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)

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