The Indian rupee gained 0.18 percent to climb back above 62 to the dollar, trading at 61.83. Gold fell 1.1 percent, or Rs 270, to Rs 26,440. The 10-year yield little changed from 8.16 percent it closed at yesterday, ING shares were up 1.6 percent. Shares of other small private sector banks such as South Indian Bank, Dhanlaxmi Bank and City Union Bank jumped 3.6-4 percent amid hopes Kotak's deal would trigger a wider consolidation in the banking industry and make them potential acquisition candidates.
While Financial Technologies jumped 3.6 percent after Jignesh Shah, accused of being involved in the NSEL scam, stepped down from its board. Sectorally, the market made a positive move overall. Barring IT, most sectors were marginally in the green. In other news, US markets ended higher to close at fresh record highs, while Asian markets were mixed.