The BSE Sensex on Monday rose 299 points to close at 36,526.14 as the Reserve Bank of India announced steps to shore up liquidity. The central bank on Monday announced that it will purchase government bonds worth Rs 36,000 crore in October to meet the festival season demand for funds.

The market sentiment was buoyed by the government’s proposal to change the management at the crisis-hit Infrastructure Leasing & Financial Services group. The National Company Law Tribunal has approved the government’s take over of the company, Moneycontrol reported. A six-member board led by veteran banker Uday Kotak will take charge.

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The domestic indices broke a three-day losing streak on Monday. The National Stock Exchange Nifty 50 closed 77.85 points higher at 11,008.30.

Shares of Bandhan Bank ended more than 20% lower after the RBI barred the bank from opening branches without its approval and ordered the freezing of the lender’s Chief Executive Officer Chandra Shekhar Ghosh’s salary.

Yes Bank topped both the Sensex and Nifty 50, gaining nearly 10%. The surge came after the bank released a part of its unaudited financial statement for the second quarter of the financial year 2018-’19, The Economic Times reported. Tata Consultancy Services, HDFC, State Bank of India and ICICI Bank were the other major gainers on Sensex. On Nifty 50, Hindalco Industries, Indiabulls Housing Finance, HDFC and State Bank of India were the other top gainers.

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Meanwhile, the stocks of Bharti Airtel performed poorly on Sensex as well as Nifty 50. While Axis Bank, IndusInd Bank, Reliance and Kotak Mahindra were the top losers on Sensex, shares of Hindustan Petroleum, UltraTech Cement performed badly on Nifty 50.

The rupee on Monday closed at a near two-week low of 72.91 against the US dollar after tumbling 43 paise. The dollar rose to new highs against global currencies on the back of steady capital outflows.