NSE's Nifty50 index ended at 12,079, up 165 points or 1.38 per cent.
Broader market, too, participated in Monday's rally. The Nifty Midcap 100 index ended over a per cent higher at 17,055 levels while the Nifty Smallcap 100 pack gained 0.70 per cent to close at 5,741 levels.
Sectorally, all but media stocks ended in the green. Metal stocks rallied the most on renewed hopes of positive developments in US-China trade talks. The Nifty Metal index climbed over 3 per cent to 2,599 levels. Auto and Pharma stocks were next on the list. On the downside, Nifty Media index slipped over 1.50 per cent to 1,946 levels.
Shares of State Bank of India (SBI) hit an over three-month high of Rs 336, up over 2 per cent on the BSE. In the past nine trading days, SBI has outperformed the market by gaining 9 per cent after the Supreme Court judgement on Essar Steel resolution came in favor of financial creditors on November 15, 2019.
Shares of Ashoka Buildcon zoomed 11.5 per cent to Rs 104.05 apiece during the day on the BSEc after the company's subsidiary bagged a project worth Rs 1,000 crore in the state of Telangana. Shares ened at Rs 96.45, up nearly 3.50 per cent.
Shares of Adani Green Energy (AGEL) hit a new high of Rs 115, up 7 per cent on the BSE on the back of heavy volumes. The stock had rallied 10 per cent on Friday.
World shares staged a cautious rally on Monday as investors held out for some progress in US-China trade talks, while the dollar dipped after its latest rally on the back of strong US economic data. The MSCI All-Country World Index, which tracks shares across 47 countries, was up 0.2 per cent. In Asia, MSCI’s broadest index of
Asia-Pacific shares outside Japan bounced 0.7 per cent, after losing 0.4 per cent last week. Japan’s Nikkei firmed 0.7 per cent, while Australian stocks rose 0.5 per cent and Shanghai blue chips 0.3 per cent.
European shares rose for the second straight session following reports that Washington and Beijing were nearing a trade agreement. The pan-European index was up 0.7 per cent till the time of writing of this report, led by trade-sensitive miners. E-Mini futures for the S&P 500 added 0.2 per cent.
In commodities, oil prices gained on US-China trade talks optimism.
(With inputs from Reuters)