Investors also geared up for a deluge of major earnings reports. By end of the say however, the stock finished with 0.26 per cent gain.
MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent following two straight days of declines that took it to its lowest since April 9. Meanwhile, shares of Tata Consultancy Services (TCS) on Monday surged over 4 per cent, following which the IT major became the first listed Indian company to hit market capitalisation of over United States dollars 100 billion (Rs 6,80,912.10 crore). Earlier, the gauge had gained 35.19 points in the previous session. Yes Bank, Bajaj Finance, M&M, ICICI Bank were the other prominent gainers in the Nifty rising between 1.50-3.50 per cent.
However, the gains were capped by selling pressure in metals, IT, power, consumer durables, and public sector undertakings' stocks.
Shares of GATI rallied 16% after the company said it is exploring the possibility of employing a new financial/strategic partner.
The market breadth was narrow as 1391 shares advanced against a decline of 1290 shares, while 165 shares were unchanged.
Major gainers in the 30-share index were Reliance Industries (3.70%), Mahindra & Mahindra (1.94%), Adani Ports and Special Economic Zone (1.74%), ICICI Bank (1.66%), HDFC (1.31%) and Larsen & Toubro (1.25%).
Aluminium prices continued to fall after Washington gave USA customers of Russian producer United Company Rusal more time to close out their business with the company and comply with sanctions.
On a net basis, domestic institutional investors had bought shares worth a net Rs 111.01 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 21.02 crore on Friday.