Mumbai Oct 1 (IANS) Recovering from the day s losses the key Indian equity indices settled in the green on Monday with the S&P BSE Sensex closing 299 points higher and the Nifty50 reclaiming the 11 000-mark.
Buying picked up around the last hour of trade on the back of the central government s decision to intervene in the IL&FS issue. The government on Monday moved the National Company Law Tribunal to change the management of the beleaguered financial services company.
Encouraging data from the manufacturing sector also helped the market analysts said.
The Nikkei India Manufacturing Purchasing Managers Index released on Monday was recorded at 52.2 in September from 51.7 in August.
Index-wise the wider Nifty50 on the National Stock Exchange closed at 11 008.30 points higher by 77.85 points or 0.71 per cent from its previous close.
The S&P BSE Sensex which opened at 36 274.25 points closed at 36 526.14 points up 299 points or 0.83 per cent from its previous close of 36 227.14 points.
It touched an intra-day high of 36 616.64 points and a low of 35 960.65.
"Stock markets in India started the day in the negative zone and traded below the flat line for most of the day before making a sharp recovery in the last 45 minutes of trade " said Abhijeet Dey Senior Fund Manager-Equities BNP Paribas Mutual Fund.
"Domestic market sentiment was given a fillip after the results of a private survey showed that India s manufacturing economy recorded an improvement in growth during September amid firmer gains in new orders output and employment " he said.
Regarding global markets Deepak Jasani Head of Retail Research at HDFC Securities said that major Asian markets closed on a mixed note while European indices like FTSE 100 DAX and CAC 40 traded in the green.
On the currency front the Indian rupee closed at 72.91 per US dollar 43 paise weaker from its previous close of 72.48.
Investment-wise provisional data with the exchanges showed that foreign institutional investors sold stocks worth Rs 1 841.63 crore and domestic institutional investors bought stocks worth Rs 3 256.34 crore.
The top Sensex gainers were: Yes Bank up 9.68 per cent at Rs 201.20; Tata Motors (DVR) up 3.86 per cent at Rs 121; Tata Consultancy Services up 3.26 per cent at Rs 2 255.80; State Bank of India up 3.04 per cent at Rs 273.05; and ICICI Bank up 3 per cent at Rs 314.15 per share.
On the other hand major losers included Bharti Airtel down 3.67 per cent at Rs 325.85; Axis Bank down 3 per cent at Rs 593.95; IndusInd Bank down 2.58 per cent at Rs 1 643.50; Reliance Industries down 2.12 per cent at Rs 1 231.55; and Kotak Mahindra Bank down 1.67 per cent at Rs 1 124.45 per share.

--IANS rrb/mr/sin