Axis Bank was the worst performer on the Nifty50, crashing ₹75.60 or 5.69% to ₹1,252.90 on heavy volume of over 1.81 crore shares worth ₹2,29,489.21 lakh

The NSEs Nifty 50 rose 261.55 points, or 1.1%, to close at 24,334.3, while the BSE Sensex gained 964.58 points, or 1.25%, to end at 78,151.45.

Benchmark indices opened in the red on Monday morning, dragged down by sharp selling in heavyweight banking stocks even as pharma and IT counters provided some support

Sensex dropped 443 points and Nifty fell 95 as weak bank stocks and rising crude oil prices amid Middle East tensions weighed on market sentiment.