Closing bell: Sensex surges 276 points, Nifty settles above 10,850 led by banking stocks

Rupee trades higher against US dollar :-
The Indian rupee on Monday strengthened against the US dollar, tracking gains in local equities and Asian currencies. At 2pm, the rupee was trading at 68.64 a dollar, up 0.34% from its previous close of 68.88. The currency opened at 68.51 a dollar and touched a high and a low of 68.49 and 68.72, respectively. The 10-year bond yield stood at 7.877% from its Friday’s close of 7.87%. Bond yields and prices move in opposite directions. So far this year, the rupee has weakened 6.9%, while foreign investors have sold $548.90 million and $5.98 billion in equity and debt markets, respectively.