Sensex Rises 296 Points, Nifty Settles Above 17,050; Tech Mahindra, Cipla, Dr Reddy's Among Top Gainers

The Indian equity benchmarks turned positive in a highly volatile trade on Monday led by gains in IT and pharma stocks.

New Delhi: The Indian equity benchmarks turned positive in a highly volatile trade on Monday led by gains in IT and pharma stocks. The 30-share BSE Sensex rose 296 points or 0.52 per cent to close at 57,420, while the broader NSE Nifty settled 83 points or 0.49 per cent higher at 17,086. The BSE index rebounded more than 850 points from its day's low of 56,543.08.

Mid- and small-cap shares jumped as Nifty Midcap 100 index climbed 0.44 per cent and Nifty Smallcap 100 index surged 0.20 per cent.

12 out of 15 sector gauges -- compiled by the National Stock Exchange -- settled in green. Nifty Pharma, Nifty IT and Nifty Healthcare jumped as much as 1.62 per cent.

"The Indian benchmarks managed to trade in green despite a negative opening in the morning as the market rebounds from Omicron shock. Domestic sentiments impacted by positive cues from other Asian markets as Singapore's manufacturing data showed a double-digit growth in November month," said Gaurav Garg, Head of Research, Capitalvia Global Research Ltd.