Sensex swings between gains and losses, Nifty tests 8,800

In the broader market, the Mid-Cap and the Smallcap indices underperformed the frontline indices

The benchmark indices on Monday extended losses with losses in companies such as Bank of Baroda and telecom company Idea Cellular outweighing gains in IT stocks.

However, investor sentiment was upbeat as Asian shares ticked up on renewed optimism over US President Trump's tax reform plans and his change of tack to agree to honour the "one China" policy.

At 02:07 pm, the S&P BSE Sensex was trading at 28,350, up 16 points, while the broader Nifty50 was ruling at 8,802, up 9 points. 

In the broader market, the BSE Mid-Cap and the BSE Smallcap indices underperformed the frontline