Indian equity benchmarks extended their rally to a third
straight day, with Sensex and Nifty closing nearly 2% high on Monday on heavy
buying in Reliance Industries and Infosys amid a solid trend in global
equities.

The BSE Sensex zoomed 1,041.08 points or 1.90% to settle
at 55,925.74. During the day, it jumped 1,197.99 points or 2.18% to 56,082.65.
The broader NSE Nifty surged 308.95 points or 1.89% to close at 16,661.40.

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The broader indices ended in green with the BSE Midcap
index up by 2.28%, while the Small cap index was up by 2.23%. The top gaining
sectoral indices on the BSE were Consumer Durables up by 4.41%, Realty up by
3.96%, IT up by 3.75%, TECK up by 3.53% and Capital Goods up by 2.92%, while
there were no losing sectoral indices on the BSE.

Major gainers from the Sensex pack were Titan Co up by
4.94%, Mahindra & Mahindra up by 4.69%, Infosys up by 4.57%, Larsen &
Toubro up by 3.77% and Tech Mahindra up by 3.59%.

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Among the losers were Kotak Mahindra Bank down by 2.23%,
Sun Pharma down by 1.75%, Dr Reddy’s Lab down by 0.73% and ITC down by 0.04%
were the top losers.

The rupee surged 4 paise to close at 77.54 against the US dollar.

Asian markets in Seoul, Shanghai, Tokyo and Hong Kong
settled with gains after China eased COVID-19 restrictions on business activity
and Beijing.

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European stock exchanges were also trading in the green
during the afternoon trade. US stock markets ended significantly higher on
Friday.

On Friday, the Sensex jumped 632.13 points or 1.17% to
close at 54,884.66. The Nifty jumped 182.30 points or 1.13% to settle at
16,352.45.

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Brent crude, the international oil benchmark gained 0.43%
to USD 119.9 per barrel.

According to stock exchange data, foreign institutional
investors continued their selling spree as they sold shares worth Rs 1,943.10
crore on Friday.