Surge in Reliance lifts Sensex by 1.6%; Nifty tops 23,400

A nearly 12 per cent surge in Reliance Industries, its third-biggest single-day gain in the past 10 years, powered Indian equities sharply higher on Monday. The stock accounted for about 61 per cent of the Sensex’s gains and nearly half of the Nifty 50 rise, helping the benchmarks extend their winning streak to a third consecutive session amid falling crude oil prices, foreign fund inflows and improving risk sentiment. The 30-share BSE Sensex rose 1,233.25 points, or 1.66 per cent, to close at 75,692.78, while the NSE Nifty 50 gained 387.70 points, or 1.68 per cent, to settle at 23,440.80.