Banks stocks like Axis Bank, ICICI and SBI are gaining on Essar oil deal. Essar Oil deal may directly benefit ICICI Bank's exposure. ICICI's 'watchlist loans' portfolio stands at around Rs 38723 crore.
The market is completely flat though bank heavyweights are leading support. The Sensex is up 46.20 points or 0.2 percent at 27719.80 and the Nifty is down 0.25 points at 8583.15. About 1524 shares have advanced, 812 shares declined, and 137 shares are unchanged.
