The BSE Sensex had touched a high of 59,203, and was up 265 points at 59,052.
The uneven nature of the recovery has also resulted in scarring effects, hurting the consumption of lower income households, while a sustained capex upcycle is not yet in sight,” said analyts at Nomura in a recent note.
Axis Bank, PowerGrid Corporation, Maruti, Sun Pharma, Titan, ICICI Bank, HDFC Bank and Asian Paints were the other prominent gainers.
The stock has been in demand off late, after CARE Ratings reaffirmed the credit ratings for the credit facilities availed by the company from bankers.
LIVE market updates: Bulls reigned on Dalal Street in early deals on Monday, riding on the back of firm global equities and bargain buying in metal and PSU bank stocks.
The three-day IPO of MapmyIndia, which has been subscribed 6.16 times, will close later in the day, while that of Metro Brands will enter its second day.
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