Stock market highlights: After opening higher on Monday, the Sensex and Nifty turned choppy in the afternoon trade. The Sensex closed 162 points down at 38,700.53, while the Nifty ended above the 11,600-mark. Infosys shares jumped by more than 1.75% to Rs 769.50, while TCS ended 1.15% higher at Rs 2,075.75. Bajaj Finance, Vedanta emerged as the biggest losers on the Sensex.
Asian shares inched up to seven-month highs on Monday as investors cheered a rebound in US payrolls and hints of more stimulus in China, though there was some caution ahead of what is likely to be a tough US earnings season. In a document published on the central government s website late on Sunday, Beijing said it would step up a policy of targeted cuts to banks required reserve ratios to encourage financing for small and medium-sized businesses, Reuters reported.