Banking stocks fuel indices' steep jump amid retreat in US bond yields

Asian rally too helps Indian markets' biggest surge in 2 weeks

The domestic markets on Monday posted their biggest jump in nearly two weeks, led by gains in banking stocks and the rally in Asian markets amid a retreat in US bond yields. The drop in Covid-19 tally in Mumbai over the weekend also boosted sentiment, although cases continued to mount across the country.
 
The benchmark Sensex closed at 48,386, with a gain of 508 points or 1.06 per cent—most since April 13. The Nifty ended the session at 14,485, with a gain of 143 points, or 1 per cent.
 
Strong earnings by private sector lender ICICI Bank buoyed