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Nifty at the close topped 17,100 levels, with a gain of 0.7%, while Sensex added 445 points or 0.77%.

Brent and WTI earlier fell by about $3, hitting lows last registered in December 2021, with WTI sinking below $65 a barrel. Both benchmarks shed more than 10% of their value last week as the banking crisis deepened.

Tracking weak global cues weighed mainly by the banking crisis in the US pulled sensex down.

Exposure to the banking and financial services sector, excluding insurance, for TCS stands at 29%, Infosys at 26%, Wipro at 27%, HCL Technologies at 14%, and Tech Mahindra at 12%.

The Reliance stock holds the key. There was a huge volume spike on Friday or Thursday over the last quite a few months. That means smart people have bought and if Reliance stabilizes, that will be the first indication that yes the market is trying to sort of find its feet.

This residual duration will have limited impact on interest rate volatility. However, investors in TMF should also be mindful that they will largely miss out on the duration-led capital gains that a long duration income fund has a great potential to deliver.

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The Nifty50 index will end at around 18,000 points this year, about 5.5% higher than current levels but roughly flat with end-2022, BofA said.

Indian Bank reported a two-fold jump in profit at Rs 1,396 crore in the third quarter of the current fiscal year, driven by an increase in interest income and a decline in bad loans

On Sunday, the Fed and five other major central banks, including the European Central Bank, took coordinated action to bolster dollar liquidity throughout major economies with a new daily currency swap facility.