Equity benchmarks gained momentum and recouped previous week's losses on Monday, with the Sensex rising more than 300 points intraday despite negative market breadth. Positive global cues - especially political developments in Europe - helped the market move towards record closing high.
The 30-share BSE Sensex was up 255.17 points at 31,311.57 and the 50-share NSE Nifty rose 69.50 points to 9,657.55, aided by banking & financials, metals, FMCG stocks and Reliance Industries.
The broader markets underperformed benchmarks, with the BSE Midcap and Smallcap indices closing flat. About 1,505 shares declined against 1,200 advancing shares on the BSE.The broader NSE Nifty was up 0.37 % at 9,623.65 as of 0644 GMT, while the benchmark BSE Sensex was 0.47 % higher at 31,201.69.
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The Nifty PSU Bank Index gained as much as 0.79 %, with top lenders State Bank of India up as much as 0.7 % and Canara Bank Ltd rising as much as 1.8 %.
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