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Among Sensex stocks Maruti Suzuki climbed 2.87 per cent to Rs 7,804.70. Axis Security said Maruti Suzuki could emerge as the biggest beneficiary of demand recovery in the post-COVID period, considering its stronghold in the entry-level segment and a favourable product lifecycle.

"The dollar may be carving out a peak, given Europe’s resilience to the energy shock and potential easing of lockdowns in China," said Commonwealth Bank of Australia strategist Joe Capurso.

The company will have one JMD each based in Bengaluru, Hyderabad and Chennai along with Mumbai and Ahmedabad to handle the day to day operations of the region.

At least five stocks will go ex-dividend today. They included Angel One, Caplin Point Laboratories, Coforge, Cyient and Dolat Algotech.

ITC has been a marked outperformer amid weak market sentiment in the week gone by. It continued its bullish momentum followed by a breakout from a bullish flag formation.

The stock, with a market capitalisation of more than Rs 3.6 lakh crore, has remained resilient amid market volatility. The stock has also given a breakout above the falling trendline channel around Rs 1,800. Hence, any dips toward Rs 1,800 can be used to create long positions in the stock.

"Price isn’t the arbiter of value, particularly in poor price discovery pockets. We are supposed to capitalize on sentiment, and not instead partake in cycles of frenzy or panic around us. From our vantage point, there is really no reason to be significantly more or less cautious than what one was say two quarters ago. You can never really afford to not be cautious."

The delay in the strategic sale of Pawan Hans, Shipping Corporation of India (SCI), IDBI Bank, and Bharat Petroleum Corporation Ltd (BPCL), and the scaled-down public offer of Life Insurance Corporation (LIC) of India have forced the government to consider other options.

Spot gold rose 0.3% to $1,850.39 per ounce, by 0039 GMT, their highest since May 12. U.S. gold futures GCv1 also gained 0.3% to $1,847.90.

Inordinate delays in debt resolution of the distressed companies in bankruptcy courts and a nudge from the government to provide additional loans to already distressed power companies have encouraged lenders to look at exit options.