New Delhi: The benchmark equity indices on Monday closed higher led by gains in the IT stocks and global cues.

Sensex closed at 38,896.71 rising 160 points, or 0.41%, while the broader Nifty settled at 11,588.35 up 35.85 points, or 0.31%.

Only two out of eleven sectoral indices compiled on Nifty ended in green. Nifty PSU Bank was the biggest losing sector shredding 2.56%.

Allahabad Bank (-7.74%) tanked the most among banks on reports of Bhusan Power and Steel fraud.

Shares of Infosys rose over 7.2% at the end of the day on Q1 results. DHFL stock was down around 30% as it posted Q4 net loss.

Meanwhile, the broader market ended in the red zone with BSE Midcap and Smallcap indices losing 0.61% and 0.63% respectively.

Infosys, Sun Pharma, Maruti Suzuki, TCS and Tech Mahindra were the most contributing stocks on BSE, rising as much as 7.2%.

Globally, Asian shares started the week on a softer note on Monday after posting their first weekly decline since early June, while the dollar was on the defensive ahead of key economic data from China.

Trading was expected to be light as Japan was shut for a public holiday.

MSCI’s broadest index of Asia-Pacific shares outside Japan was a shade lower at 524.9 points. It fell a little more than 1% last week, snapping five straight weeks of gains. Australian shares slipped 0.8% while South Korea’s KOSPI inched 0.3% lower.

Read all the updates here:

9:15 am: Sensex opened at 38,892 rising 155.77 points, or 0.40%, while Nifty was up 43.05 points, or 0.37%, at 11,595.55.

9:50 am: Shares of Allahabad Bank is down almost 10% on both the equity indices. On BSE, the company is trading at 42.50 down 9.86%.

11:20 am: Nifty PSU Bank worst performer among sectors, falling 2.6% lead by losses in Allahabad Bank (10.39%), Union Bank (4.71%) and Bank of India (3.73%).

12:30 pm: Led by gains in the Infosys (6.20%), Nifty IT sector is up 1.81%, taking the pole position among the sectors.

12: 40 pm: Shares of DHFL is down almost 30% at 48.85. The company had touched its 52-week low of 46.70 during the early trade.

1 pm: WPI inflation eases to near two-year low at 2.02% in June

14:30 pm: Sun Pharma surges over 4% as Morgan Stanley double upgrades stock. On BSE, the stock is up 4.28% at 425.15.

15:12 pm: Shriram Transport Finance Company Ltd on Monday said it is looking to raise up to 10,000 crore through a public issue of secured redeemable NCDs of face value of 1,000 each.

15:30 pm: Sensex closed at 38,896.71 rising 160 points, or 0.41%, while the broader Nifty settled at 11,588.35 up 35.85 points, or 0.31%.

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