Domestic shares further extended gains and hit fresh intraday high in mid-morning trade, supported by positive Asian cues. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 432.57 points or 1.20% at 36,453.99. The Nifty 50 index added 145.55 points or 1.37% at 10,752.90.
In the broader market, the S&P BSE Mid-Cap index rose 1.02% while the S&P BSE Small-Cap index gained 1.18%. Both these indices trailed the benchmark Sensex.
The market breadth favored the buyers as 1488 shares rose and 916 shares fell. A total of 164 shares were unchanged on the BSE.
India reported 2,53,287 active cases of COVID-19 infection and 19,693 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Total coronavirus cases worldwide stood at 11,450,247 so far, according to data from Johns Hopkins University.
The Nifty Private Bank index rose 1.84% to 12,208.80. the index had shed 0.46% on Friday to end at 11,987.65.
Among the index constituents, City Union Bank (up 2.39%), RBL Bank (up 1.79%), IDFC First Bank (up 1.68%), Axis Bank (up 1.47%), Bandhan Bank (up 1.33%) and Kotak Mahindra Bank (up 0.89%) advanced.
IndusInd Bank rose 3.87% to Rs 506.10 after the bank said its net advances rose 4% to Rs 2,00,357 crore in Q1 June 2020 from Rs 1,93,520 crore from Q1 June 2019.
Deposits stood at Rs 2,11,970 crore in Q1 FY21, up 6% from Rs 2,00,586 crore in Q1 FY20. Retail deposits and deposits from small business customers amounted to Rs 67,318 crore in Q1 FY21, or 31.8% of the total deposits reported during the quarter.
HDFC Bank added 3.35% to Rs 1110.20 after the private lender's advances aggregated to approximately Rs 10,04,500 crore as of 30 June 2020, registering a growth of around 21% from Rs 8,29,700 crore registered in 30 June 2019. Deposits aggregated to approximately Rs 11,89,500 crore as of 30 June 2020, registering a growth of around 25% from Rs 9,54,600 crore in 30 June 2019.
Federal Bank gained 2.64% to Rs 54.40 after the private bank's total deposits grew 17% to Rs 1.54 lakh crore (provisional) as on 30 June 2020 as against Rs 1.32 lakh crore as on 30 June 2019. Gross advances advanced 8% to Rs 1.23 lakh crore (provisional) as on 30 June 2020 compared with Rs 1.13 lakh crore as on 30 June 2019.
ICICI Bank was up 0.46% to Rs 362.65. The bank's board will meet on 8 July 2020 to consider the proposal of raising funds by issue of equity shares and/or other equity linked securities, through permissible modes.
Asian shares rose across the board on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery, even as surging coronavirus cases delayed re-openings across the United States.
Stocks in China led gains among the major markets, with the Shanghai composite soaring nearly 5%.
US market was shut on Friday to observe the July Fourth holiday which falls on Saturday this year.