Sensex rises as banks recover, ONGC gains

The Sensex provisionally rose on Monday, led by recently hit banking stocks such as SBI, while ONGC gained after posting a surge in quarterly earnings over the weekend.

State Bank of India rose 1%, after earlier falling as much as 1.5 percent. Shares of India's biggest lender slumped 4.1% on Friday after reporting a surge in bad loans during the April-June quarter.

State-run producer Oil & Natural Gas Corp rose 0.6 percent after the company reported over the weekend a higher-than-expected jump in quarterly profit.

The Sensex provisionally ended up 0.43% at 17,633.45 points, while the Nifty rose 0.52% to 5,347.90 points.