Closing Bell: Indian equity benchmarks S&P BSE Sensex and NSE Nifty50 ended their three-day losing streak on Monday led by IT stocks. TCS and Infosys were once which led the surge in both indices. TCS shares gained as the company is set to announce its October-December Quarter results today, marking the beginning of earnings season.

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India VIX, a measure of volatility in Nifty ended 2.47 per cent lower at 14.65.

The 30-scrip index ended 60,747.31 points or 1.41 per cent higher at 60,747.31 while the broader market Nifty50 finished at 18,101.20, up 241 points or 1.35 per cent from its previous closing. 

The 50-stock Nifty50 traded in a 205 point range after opening with a gap up while Sensex moved in a 742 point range. Both benchmark indices ended their three-day losing streak. 

The market breadth in was skewed in favour of gainers. On Nifty50, 43 stocks gained while 7 declined. The top gainers were Mahindra & Mahindra, SBI Life, IndusInd Bank, TCS and HCL Technologies while the top losers were Titan Company, Bajaj Finserv, Grasim Industries, Bajaj Auto and HDFC Life.    

Positive action was seen in all Nifty sectoral indices but one - Nifty Consumer Durables, which fell nearly 0.5 per cent. The top performers were Nifty IT (+2.83 per cent), Nifty Metal (+1.43 per cent) and Nifty Auto (+1.23 per cent). Banking gauge Nifty Bank ended at 42,582.75, up 0.93 per cent or nearly 400 points.

Broader markets moved in tandem with frontline indices Sensex and Nifty. In the 100-stock Nifty Mid Cap 100, 74 stocks advanced helping the index take a 296 point lead over the previous closing. It ended at 31,716.65, up 0.94 per cent. The top gainers were L&T Finance Holdings, Max Health and Persistent Systems while the top losers were Vodafone Idea, Trent and Hindustan Petroleum. 

In the Nifty Small Cap 100, advances were 67, declines were 32 and 1 stock exchanged. The top gainers were KEC International, Aether and Intellect Design Arena while biggest losers were Chemplasts, Praj Industries and Renuka Sugars. 

The rupee gained 29 paise to close at 82.37 (provisional) against the US dollar on Monday, supported by a weaker greenback overseas and a firm trend in domestic equities. At the interbank foreign exchange market, the local unit opened at 82.41 and touched an intra-day high of 82.25 and a low of 82.44 against the greenback. It finally ended at 82.37 (provisional), registering a rise of 29 paise over its previous close.