After brief volatility in the opening trade, Indian shares advanced in the afternoon session on Monday, helped by buying in PSU Banks, financials, realty and media stocks. The rally in the Indian shares came after finance minister Nirmala Sitharaman

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announced measures to revive the economy and improve investor sentiment, particularly rolling back the enhanced surcharge on foreign and domestic investors.

At 01:10 pm, the BSE Sensex was trading higher by 560.24 points ,or 1.53 percent, at 37,261.40 while the Nifty50 was at 10,982.35, up by 153 points or 1.41 percent.

All sectors were in green except Nifty Metal and Nifty Auto, which declined 2.39 percent and 0.08 percent, respectively.

The Nifty PSU Bank rose the most followed by Nifty Financial Services, Nifty Media, Nifty Private Bank and Nifty Realty.

Adani Ports, YES Bank, HDFC, L&T and Indiabulls Housing Finance were the top-gainers while JSW Steel, Tata Steel, Vedanta, Hindalco and Hero MotoCorp were the top laggards.

The Nifty PSU Bank index rose over 6 percent on Monday after finance minister Nirmala Sitharaman announced a Rs 70,000 crore recapitalisation plan for PSU Banks. The index rose as much as 6.4 percent intraday, while the benchmark Nifty was up 0.72.

The Nifty Auto trimmed gains. The index fell 1.67 percent intraday led by losses in Motherson Sumi Systems, Hero MotoCorp followed by two-wheeler stocks.

Meanwhile, Asian shares sank as the latest salvos in the Sino-U.S. trade war shook confidence in the world economy and sent investors steaming to the safe harbour of sovereign bonds and gold, while slugging emerging market currencies.

MSCI's broadest index of Asia-Pacific shares outside Japan shed 1.9 percent.

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First Published:Aug 26, 2019 2:26 PM IST