Money on the markets
A maturing market amid the mayhem
Leading the pack was Indian Overseas Bank which jumped over 7 percent, and Federal Bank which gained 3.1 percent. Bigger peers like SBI and ICICI ended the day in the red.
Investor sentiments also had plenty of support from strong global markets.
The benchmark posted a near 500-points gain with stocks like ICICI, HDFC and ITC surging. The Nifty index rose by over 140 points.
Engineering and construction firm Larsen & Toubro fell 3.6 percent and was the main stock that pushed the benchmark lower. Earlier in the day the company had announced its Q1 net profit had risen to 15.98 billion rupees.
On Friday the benchmark closed 253 points lower at 13,504 on worries over the monsoon and global economy.
The rally in the benchmark, which closed at 14,913, was led by HDFC (up 7.7 percent). Gains in Tata Steel, M&M and Reliance Infrastructure also helped.
ICICI Bank was the star performer with its stock jumping 9 percent to 754 rupees. Other Sensex heavyweights like Reliance Industries and Infosys gained nearly 4 percent each.
Profit-booking continued in a market that has risen sharply since early March, dragging the benchmark down by 174 points to 15,274.
The 50-share Nifty gained over 100 points to close at 4,655.
Leading the rally were L&T, Reliance Industries, HDFC Bank and BHEL.
Satyam shares hit a 10 percent upper circuit for the second day in a row and closed at 73.5 rupees. Tech Mahindra rose over 5 percent after an over 25 percent rally on Tuesday.
Weak global cues also dampened sentiments and the Sensex ended 2.9 percent down at 14, 666. The Nifty closed 3.4 percent lower.