Indian benchmark indices, Sensex and Nifty, surged more than 1 per cent on Monday on the back of strong buying support in banking and IT stocks.
At around 12.20 pm, the 30 stock S&P Sensex of the Bombay Stock Exchange was trading at 58,886.41 points, 1.09 per cent or 632.59 points higher from its previous session's close at 58,253.82 points.
The broader Nifty 50 of the National Stock Exchange was trading at 17,539.20 points, 185.15 points or 1.07 per cent higher from its previous session's close at 17,354.05 points.
The Nifty opened on a strong positive note at 17,387.15 points and touched a high of 17,544.90 points.
There was strong buying support in banking and IT stocks. Axis Bank surged more than two percent. ICICI Bank was trading 1.92 per cent higher at Rs.754.45. HDFC Bank jumped 1.82 per cent to Rs.1506.70. State Bank of India was trading 1.48 per cent higher at Rs.467.25.
IT stocks also witnessed good busying support. TCS jumped 1.91 per cent to Rs.3808.20. HCL Technologies was trading 0.64 per cent higher at Rs.1326.80. Infosys was up 0.60 per cent at Rs.1900.95 and Wipro was trading 0.39 per cent higher at Rs.718.
Only five of the 30 scrips that are part of the Sensex were trading in the red. Dr Reddy's Laboratories was down 0.76 per cent at Rs.4871.35. Titan was down 0.41 per cent to Rs.2514.05. UltaTech Cement was trading 0.12 per cent down at Rs.7583.
( With inputs from ANI )
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