Indian stocks closed at a 15-month high on Monday as global markets firmed on positive US jobs data last week that boosted hopes of economic recovery. A late monsoon surge added to sentiments of investors worrying about the economic impact of a worsening drought, although the downpour over the past week, experts say, isn’t much help to farmers.
The 30-share benchmark index of the Bombay Stock Exchange — Sensex — rose 327.2 points, or 2.1 per cent, to close at 16,016. On the broader National Stock Exchange, the 50-company Nifty index ended at 4,783 points, up 2.2 percent.
The latest rally takes the Sensex rise over six months to 86 per cent, one of the highest among emerging markets worldwide.