Markets@Moneycontrol: Indices open the week on high note, Sensex ends almost 300 pts higher

Moneycontrol News 

Equity benchmarks began the week on a strong note on Monday on positive global cues and ahead of June quarter earnings. Banks and metals stocks, and Reliance Industries, L&T and Infosys drove the market higher.

The 30-share BSE Sensex rose 276.86 points or 0.78 percent to 35,934.72 and the 50-share NSE Nifty gained 80.20 points or 0.74 percent at 10,852.90 while the Nifty Midcap index rallied 1.6 percent.

In the broader markets, midcaps had a good day of trade as they outperformed frontliners. The Nifty Midcap index surged 291 points. There was a last hour surge seen in these stocks that led to this upmove on D-Street.

Meanwhile, banks, too, gained led by gains in names such as Karnataka Bank, which was up over 7 percent in the trade.