Sensex, Nifty rise sharply for 2nd day on global cues, bank stocks

The benchmark indices rose sharply for the second session in a row on Monday, led by gains in financial stocks, which have a significant weighting in the indices. Experts said amid positive global cues, investors resorted to aggressive buying of banking and financial stocks, following a sharp fall in these stocks in the past month. Most global markets rallied sharply on Monday after positive Chinese industrial data boosted investor sentiment. The Sensex closed at 37,982, a gain of 593 points, or 1.6 per cent. 

The Nifty rose 177 points, or 1.6 per cent, to end at 11,228. Both indices have gained