Sensex recovers on SBI earnings boost

MUMBAI (Reuters) - The Sensex provisionally rose 0.8 percent on Friday after State Bank of India reported higher-than-expected earnings, which led to buying in financial shares.

Stocks pared early session losses which were triggered by continued weakness in the rupee which hit a new life low in the session.

Shares in SBI closed 5.82 percent up, while ICICI Bank rose 2.76 percent.

Tata Motors shares closed 3.5 percent down. The Sensex rose 0.78 percent to 16,195.81 points.

The Nifty added 0.44 percent at 4,891.45 points.