Stock Market Highlights: The Sensex and Nifty made a smart recovery in the afternoon trade on Monday, on the back of a rally in blupechip heavyweights. The Sensex closed 113.31 points higher at 36,582.74 while the Nifty ended above the 10,900-mark. Shares of billionaire Mukesh Ambani-led Reliance Industries closed 3.5% higher at Rs 1,290.93 to emerge as the biggest gainer in the Sensex. Shares of Anil Ambani-led Reliance Communications plunged in trade on Monday, after the firm filed for insolvency on Friday. RCom shares closed 35% lower at Rs 7.55 on NSE.
Meanwhile, Asia stocks hovered near four-month highs on Monday after a mixed performance on Wall Street at the close of last week, while the dollar firmed against the yen following strong U.S. job and manufacturing data. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat. It had scaled a four-month peak on Friday along with a surge in its global peers. Trade was subdued with many of the region’s markets closed for the Lunar New Year. China’s financial markets are closed all week, while those in South Korea are shut until Thursday, Reuters reported. We bring to you LIVE updates.