The PSB stocks have been on a roll, especially since last last week, driven by the government's mega Rs 2.11 lakh crore recapitalisation plan and encouraging quarterly earnings by more blue chip companies.
In the BSE 500 index, 415 stocks advanced on Monday, while 84 numbers of stocks remained in the grip of bears.
Meanwhile, the S&P BSE Sensex was up 119.99 points or 0.36% at 33,277.21.
FDA moves to revoke soy health claim
The US Food and Drug Administration called into question Monday the health claim that soy protein reduces heart disease risk. In the same comment, the association urged the FDA not to allow the use of a qualified health claim.
Nifty Auto was also trading a per cent above the previous closing.
"On the global front, market participants are likely to stay conservative ahead of the two days FOMC (Federal Open Market Committee) meeting from tomorrow (Tuesday)". In spite of some correction and profit booking on Thursday and Friday, Sensex and Nifty have consolidated their positions above key psychological marks of 33,000 and 10,000 respectively. The Nifty midcap index was the outperforming sector which added 1.3 percent led by MRF, Bata India, IDBI Bank, Oriental Bank of Commerce and Syndicate Bank.
The S&P BSE Bankex Index rose 0.7 percent.
According to market observers, index heavyweights like Lupin, ONGC, Bharti Airtel, Tata Consultancy Services and Reliance Industries aided in the upward trajectory of the key indices.
Major Sensex losers were: Hindustan Unilever, down 1.71 per cent at Rs 1,235.90; ITC, down 1.56 per cent at Rs 265.15; Wipro, down 1.15 per cent at Rs 293.20; Tata Steel, down 1.03 per cent at Rs 718.80; and Mahindra and Mahindra, down 0.83 per cent at Rs 1,374.45.
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