Stock market recap: The benchmark Sensex rallied 1,233 points to a more than seven-week high on Monday, extending its gains for a third consecutive session. The Nifty 50 also climbed above 23,400, buoyed by a sharp rally in Reliance Industries following its quarterly earnings and easing crude oil prices.
The 30-share Sensex surged 1,233.25 points, or 1.66%, to close at the day's high of 75,692.78, its highest level since 7 September. The Nifty rose 387.70 points, or 1.68%, to settle at 23,440.80, also its highest close in more than five weeks.
Among the 30 Sensex constituents, Reliance Industries led the gains, surging 11.64% after reporting a record quarterly profit of ₹29,550 crore for July-September, up 33.8% from a year earlier. Strong performance in its oil-to-chemicals business, driven by higher global fuel margins, and growth in its telecom arm offset relatively subdued performance in retail.
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Indian equity markets ended Monday's session on a strong note, with the Nifty 50 surging 387.70 points, or 1.68%, to close at 23,440.80, against its previous close of 23,053.10. The index opened at 23,222.30, touched an intraday low of 23,207.05 and closed at the day's high, indicating strong buying momentum towards the end of the session.