Sensex rallies 466 points, Nifty surges to reclaim 10,700 level

Sensex on Monday jumped 466 points tracking gains in banking and auto sector amid signs of economic recovery and global cues. 

After touching the intra-day high of 36,661.66 and the day's low of 36,254.02, the 30-share BSE index settled 465.86 points, or 1.29%, higher at 36,487.28.

Similarly, NSE Nifty rose 156.30 points, or 1.47%, to end at 10,763.65.

M&M was the top gainer in the Sensex pack, rallying over 7%, followed by Bajaj Finance, Maruti, TCS and HDFC Bank. Bajaj Auto, HDFCBharti Airtel, Hindustan Unilever and HCL Tech were among the laggards. 

Experts said stock-specific action and signs of easing border tension between India and China led to positive sentiment among investors. 

Massive buying momentum in global equities on hopes of a COVID-19 vaccine and improving global macroeconomic conditions also boosted investor sentiment. 

Asian markets were in the positive zone as most economies reported better-than-expected near-term normalcy in a rebound of economic activity.

Investors counted on cheap liquidity and fiscal stimulus to sustain the global economic recovery even as surging coronavirus cases delayed re-openings across the United States.Japan`s Nikkei managed a rise of 1.8% while Hong Kong`s Hang Seng climbed up by 3.8% and Shanghai Composite by 5.7%