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Sensex closes above 27000; SBI up five pct

New Delhi : After the Reserve Bank of India policy review today, the market ended with hefty gains. The Sensex ended above 27000 for first time since October 2015 up 232.22 points or 0.9 percent at 27009.67, whereas the Nifty traded up 65.40 points or 0.8 percent at 8266.45.

ICICI Bank, SBI closed up four to five percent while Sun Pharma, ITC and Tata Steel were other gainers. Infosys, HDFC, Axis Bank, Reliance and GAIL were amongst the losers in the Sensex.

Monsoon is strengthening over the Arabian Sea and there have been favorable developments in the last 48 hours for bountiful rains in India.

India Meteorological Department Director BP Yadav pointed out that Kerala has been getting a good amount of rainfall continuously.

The normal date of monsoon onset over Kerala is June 1. Speaking about the unprecedented heat wave in several regions of the country, the IMD chief said severe weather conditions will continue in western and eastern parts of Rajasthan, western Haryana, some parts of Gujarat and western Madhya Pradesh. (ANI)