Markets rise for 4th day, Sensex reclaims 58K mark

Mumbai: Equity indices darted up for the fourth straight session on Monday to close at over three-month highs, boosted by robust buying in market heavyweight Reliance Industries and auto stocks amid firm global trends.

The four-day rally in equities made investors richer by over Rs 12.74 lakh crore with the benchmark Sensex jumping 5.15 per cent to reclaim the 58,000-mark.

The 30-share BSE Sensex climbed 545.25 points or 0.95 per cent to finish at 58,115.50.

The benchmark closed above the 58,000-level for the first time after April 13 this year.

Similarly, the broader NSE Nifty advanced 181.80 points or 1.06 per cent to settle at 17,340.05.

Mahindra & Mahindra topped the Sensex gainers' chart, soaring 6.15 per cent after the auto major posted a 33 per cent increase in domestic passenger vehicles sales in the previous month.

Reliance Industries and Bharti Airtel climbed as much as 2.64 per cent following the culmination of India's biggest ever auction of airwaves, with spectrum worth Rs 1,50,173 crore being sold.

In the broader market, the BSE midcap gauge jumped 1.51 per cent and the smallcap index spurted 1.47 per cent.

The rupee appreciated by 22 paise to close at 79.02 against the US dollar on Monday amid risk-on sentiments, decline in crude oil prices and weak American currency

overseas.