Indian Stock Market Closes Higher; Adani Group Shares Surge

The Indian equity markets opened the week with strong gains on Monday, supported by a rally in Adani Group stocks and strength in select auto and banking shares.

- AGENCIES

Sensex started the day around 160 points higher at 80,662 and climbed to an intra-day high of 81,049. Although it gave up some of the gains later in the session, the index still ended 295 points up at 80,797.

The Nifty touched a high of 24,526 during the day and eventually closed with a gain of 114 points, or 0.5 per cent, at 24,461.

"Markets started the week on a firm footing, lifted by steady foreign inflows and optimism around an impending India-US trade deal," said Vikram Kasat of PL Capital.

Strength in Asian currencies and easing global trade tensions added to the positive sentiment, even as activity remained muted in some global markets due to holidays, Kasat added.