Nifty ends 2.6 percent higher, led by banks

MUMBAI (Reuters) - The NSE Nifty jumped more than 2.6 percent on Monday, its biggest daily percentage gain in more than a year, encouraged by strong trading in shares of banks and miners after a selloff last week.

The broader Nifty ended at 7,162.95, while the benchmark BSE Sensex gained 2.47 percent to close at 23,554.12.

Among gainers, State Bank of India soared 9 percent on value-buying after the stock fell as much last week. India's biggest lender on Friday reported the biggest fall in its quarterly profit in nearly five years as bad loan provisions jumped.

Construction and engineering stocks also surged. Industrial group Larsen & Toubro jumped 9.1 percent.

 

(Reporting by Aastha Agnihotri; Editing by Anupama Dwivedi)