The Indian markets were trading over 1 per cent higher in Monday’s afternoon deals, lifted mainly by financials.
The S&P BSE Sensex rose 350 points, or 1 per cent, to 38,780 levels and the Nifty50 index topped the 11,450-mark. Kotak Mahindra Bank and HDFC Bank gained 3 per cent each, followed by IndusInd Bank, HDFC, and Bajaj Finance (all up 2%).
On the stock-specific front, Gautam Adani-led Adani Group gained 3 per cent as it is set to acquire a 74 per cent stake in Mumbai International Airport with the current operator settling its disputes with its minority partner and exiting the venture.
The Nifty sectoral indices were largely in the green, led by Nifty Bank index, up 1.4 per cent.
The broader markets continued their outperformance with the S&P BSE MidCap and SmallCap indexes ruling 0.6 per cent and 1 per cent higher, respectively.