Equity benchmark indices reversed direction to register sharp gains in afternoon trade on Monday, tracking gains in global peers.
The BSE Sensex rose 164 points at 37,145 and the Nifty50 gained 57 points at 11,003. The market breadth was tilted in favour of buyers. About 1,167 shares advanced against 608 declining shares on the NSE.
, UPL, Maruti Suzuki
, L&T and Kotak Mahindra Bank
were top gainers, whereas HCL Technologies, Infosys
, Tech Mahindra, Eicher Motors and Bajaj Auto were losers.
Buying in banking, financial services and infrastructure sectors supported the markets, however selling in information technology stocks, as the rupee moved higher, kept the upside in check.
The Nifty Mid-cap and small-cap shares outperformed the markets rising over 1% each. PSU Bank index surged over 1.5% led by Bank of India, Canara Bank, Union Bank and PNB.
The stock markets and forex market will be closed on Tuesday for 'Muharram'. Further, investors will watch out for data on factory output (IIP) for July and retail inflation (CPI inflation) for August, scheduled to be out on Thursday.
On the international front, European stocks rose around one-month highs as upbeat export data from Germany poured in. Elevated hopes of stimulus by the European Central Bank later this week also lifted stocks.