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Nifty above 11,700 mark; L&T, IndusInd Bank stocks lead

HDFC twins, L&T, ITC, and TCS were the top contributors to the index gain, while Reliance Industries, Bajaj Auto and Hero MotoCorp were among the losers on the Sensex.
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Equity benchmark indices opened on a flat note on Monday amid mixed global markets and a spike in oil prices. Investors will also keep an eye on the Middle East, where the geopolitical situation is worsening by the day.

On the economy front, Reserve Bank of India (RBI) Deputy Governor Viral Acharya has resigned six months before the scheduled end of his term in office, according to a Business Standard report.

The Sensex rose 78 points at 39,273, with the Nifty up 22 points to trade at 11,746 levels. HDFC twins, L&T, ITC, and TCS were the top contributors to the index gain, while Reliance Industries, Bajaj Auto and Hero MotoCorp were among the losers on the Sensex.

Shares of Bandhan Bank rose 2% after the National Company Law Tribunal (NCLT) has directed the bank to convene a meeting of its equity shareholders to approve the proposed merger with Gruh Finance.

Shares of JMC Projects was up 2% on bagging orders worth Rs514cr.

Meanwhile, oil prices climbed on Monday as tensions remain high between Iran and the US.

The rupee fell 14 paise to settle at 69.57 against the US dollar.

The Volatility gauge, India VIX was up 3.13% at 15.06.

The most active stocks on the NSE are Indiabulls Housing, HDFC and Reliance Industries.

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