Sensex, Nifty post best day in 2 weeks as ICICI Bank, Reliance climb

After three straight weeks of losses, the NSE Nifty 50 index ended 1% higher at 14,485 on Monday, while the benchmark S&P BSE Sensex closed up 1.06% at 48,386.51. The indexes have shed around 6% and 8%, respectively, from February peaks.

Indian shares posted their sharpest daily rise in nearly two weeks on Monday, spurred by gains in ICICI Bank Ltd following strong quarterly results, even as more regions in the country went into lockdown to curb a surge in coronavirus cases. After three straight weeks of losses, the NSE Nifty 50 index ended 1% higher at 14,485 on Monday, while the benchmark S&P BSE Sensex closed up 1.06% at 48,386.51. The indexes have shed around 6% and 8%, respectively, from February peaks. The southern Indian state of Karnataka, home to tech hub Bengaluru, will impose a lockdown for two weeks starting Tuesday evening, the state's chief minister said, as total COVID-19 cases in India surged by 352,991 over the last 24 hours.