Sensex, Nifty climb over 1% amid firm global market trends

Among the Sensex constituents, IndusInd Bank, Infosys, Tech Mahindra, Bajaj Finserv, Axis Bank, UltraTech Cement, Kotak Mahindra Bank and ICICI Bank were the major gainers.

Benchmark stock indices Sensex and Nifty spurted over 1% at close on Monday following buying in IT, oil and gas and banking shares bolstered by firm global trends.

Rising for a second straight session, the 30-share BSE Sensex rallied 760.37 points or 1.41% to settle at 54,521.15. During the day, it jumped 795.88 points or 1.48% to 53,760.78.

The broader NSE Nifty advanced 229.30 points or 1.43% to 16,278.50 as 41 of its constituents advanced.

Among the Sensex constituents, IndusInd Bank, Infosys, Tech Mahindra, Bajaj Finserv, Axis Bank, UltraTech Cement, Kotak Mahindra Bank and ICICI Bank were the major gainers.

Dr Reddy's Lab, HDFC Bank, Maruti, Mahindra & Mahindra, Nestle, Hindustan Unilever and HDFC were the laggards.

"Indian markets opened on positive note following positive overall Asian markets. During the afternoon session markets further strengthened as buying in IT, teck and capital goods stocks was seen. Gains in frontline blue-chip stocks such as Infosys, Tech Mahindra also helped to lift the markets," said Narendra Solanki, Head Fundamental Research -Anand Rathi-Investment Services.

Meanwhile, international oil benchmark Brent crude jumped 2.18% to $103.4 per barrel.