Bourses surge to nearly four-week high on gains in Reliance Industries, Infosys and TCS

Mumbai: Benchmark stock indices Sensex and Nifty surged by nearly 2 per cent on Monday, extending their winning run to a third straight day on gains in index major Reliance Industries, Infosys and TCS amid a firm trend in global equities.

Equity investors' wealth jumped by over Rs 10.19 lakh crore in the three-day market rally.

The 30-share BSE Sensex rallied 1,041.08 points or 1.90 per cent to settle at a four-week high of 55,925.74. During the day, it soared by 1,197.99 points or 2.18 per cent to touch a high of 56,082.65. As many as 26 Sensex stocks ended in the green.

Similarly, NSE Nifty jumped 308.95 points or 1.89 per cent to settle at nearly four-week high of 16,661.40 with 45 of its constituents ending with gains.

In the three day rally to Monday, Sensex jumped by 4 per cent or 2,176 points while Nifty soared by 635 points or 3.92 per cent.

International oil benchmark Brent crude gained 0.43 per cent to $119.9 per barrel.

The rupee rose further by 4 paise to close at 77.54 against the US dollar on Monday, supported by positive domestic equities and a weak American currency overseas. Foreign institutional investors turned net buyers as they bought shares worth Rs 502.08 crore on net basis on Monday, according to stock exchange data.