The benchmark S&P BSE Sensex clocked a fresh all-time high as it surged over 700 points, 1.4 percent, in the early trade on Monday. The broader Nifty50 index also jumped above the 15,000-mark and then later conquered the 15,200 level.
Mahindra & Mahindra shot up over 10 percent and was the top Sensex gainer, followed by State Bank of India and Axis Bank, up 3 percent each.$60 a barrel for the first time since January 2020. The oil price was boosted by supply cuts among key producers and hopes for further US economic stimulus measures to increase demand. Market sentiments also received support from rapid vaccinations against the coronavirus.
On Monday, Japan’s Nikkei jumped 2 percent, while Australian shares advanced 0.8 percent, led by technology and mining.