Monday's market.

Many major banking stocks jumped ahead in afternoon trading, propelled by strong earnings results from the industry, and by the overall market's positive reaction to the resignation of General Motors Corp. chairman Robert M. Stempel.

"GM is a big force in the market and the news that its directors are going to do whatever is necessary to become competitive again has helped all parts of the market, including banks," said one analyst.

In percentage terms, New York's Citicorp was the leader among banks, rising $1.125 to $16.75 in afternoon trading, a gain in value of 7.2%.

Meanwhile, Wells Fargo & Co., San Francisco, surged $3.375, to $68.50. But rival BankAmerica Corp. was unchanged at $41.75.

The big gainers included a number of New York institutions: J.P. Morgan & Co., up $1.375, to $62.625; Chemical Banking Corp., up $1.375, to $35.50; Bank of New York, up $1.375, to $45.75; and Chase Manhattan Corp., up 75 cents, to $23.875.

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