Sensex closes nearly 1.5% higher as banks lead gains

Indian shares snapped a two-day losing streak on Monday as a recovery in financial stocks such as Yes Bank Ltd offset declines in IT stocks such as Wipro Ltd.

Yes Bank led the gains on the NSE index, ending 6.4 percent higher, after falling in the last five sessions. State Bank of India rose 5.3 percent, following three sessions of losses.

The broader NSE Nifty closed up 1.33 percent at 10,130.65, while the benchmark BSE Sensex ended 1.44 percent higher at 33,066.41.