October 25, 2017 / 10:30 AM / a month ago

Indian shares mark record close; SBI drives gains

Oct 25 (Reuters) - Indian shares ended at record closing highs on Wednesday as banks soared after the federal cabinet unveiled a $32.4 billion recapitalisation plan, while construction firms surged after the government approved an ambitious plan to build roads nationwide.

The broader NSE index ended 0.86 percent higher at 10,295.35, while the benchmark BSE index closed up 1.33 percent at 33,042.50 - having breached the 33,000 level for the first time earlier in the session.

State Bank of India soared nearly 28 percent, while Punjab National Bank, the country’s second-biggest state-run lender closed up 46 percent. Both state-run lenders ended at their highest close since January 2015.

Larsen & Toubro was the third-largest gainer in the index, rising 5.4 percent.

For midday report click (Reporting by Tanvi Mehta in Bengaluru; Editing by Gopakumar Warrier)

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