Markets bounce back after 3-day fall; Sensex climbs 300 points

Benchmark indices bounced back on Monday after a three-day fall, largely helped by buying in banking counters.

After a weak beginning, the 30-share BSE Sensex recovered the lost ground and ended 300.44 points or 0.51 per cent higher at 59,141.23.

During the day, it climbed 436.76 points or 0.74 per cent to 59,277.55.

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The NSE Nifty went higher by 91.40 points or 0.52 per cent to close at 17,622.25.

From the Sensex pack, Mahindra & Mahindra, Bajaj Finance, State Bank of India, Hindustan Unilever, Nestle and Bajaj Finserv were among the major winners.

Tata Steel, ICICI Bank, Power Grid and ICICI Bank were among the laggards.

Elsewhere in Asia, markets in Seoul, Shanghai, Tokyo and Hong Kong ended lower.

European equity markets were also quoting in the negative territory. The US markets had ended lower on Friday.

Meanwhile, the international oil benchmark Brent crude declined 1.37 per cent to $ 90.10 per barrel.

Foreign institutional investors (FIIs) offloaded shares worth a net Rs 3,260.05 crore on Friday, according to data available with the BSE.