Indian equity benchmark indices, Sensex and Nifty 50 ended at their 6-month highs on Monday. While BSE's Sensex closed 382.67 points or 1.04 percent higher at 37054.10, Nifty 50 ended at 11168.0, 1.2 percent or 132.60 points higher than the previous close. It is the indices' best close since 19 September 2018.
During the day, the country's largest public sector bank, the State Bank of India rose a little more than 2 percent to hit an intraday high of Rs 289 apiece on the lender's decision to link its interest rates on savings deposit accounts above Rs 1 lakh to RBI's repo rate. Bloomberg data showed that the trading volume for the stock was more than quadruple the 20-day average.
Shares of Tata Motors gained as much as 1.5 percent to Rs 184 after a block deal involving 41.8 lakh shares. The buyers and sellers of the deal were not known.
The Birla Corporation stock dropped as much as 11.5 percent, its biggest fall in nearly four years, on NSE after the company said in a stock exchange filing that the National Green Tribunal has ordered the company to stop all mining activities which are being carried on within the municipal limits of Chittorgarh City and within 10 kilometers of Bassi Wildlife Sanctuary or within Eco-Sensitive Zone of Bassi Wildlife Sanctuary.
Shares of Jet Airways rallied for the sixth consecutive session on Monday and rose as much as 4.8 percent to Rs 255.
The top gainers for the day on Nifty were Bharti Airtel, HPCL, BPCL, Eicher Motors and Bharti Infratel.
All sectoral indices, except IT index, ended in green.