MUMBAI (Reuters) - Indian banking shares soared on Wednesday, sending indexes to record highs after the cabinet approved a $32.43 billion plan to recapitalise its state banks over the next two years, although bonds fell given the injection will be funded with debt.
State Bank of India The benchmark NSE Nifty rose as much as 1.3 percent to a record high of 10,340.55, while the BSE Sensex climbed as much as 1.6 percent to a record high of 33,117.33. Bonds fell, with the benchmark 10-year bond yield up 3 basis points to 6.81 percent from its previous close. ($1 = 65.0800 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Richard Borsuk) (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)