The Bombay Stock Exchange Sensex on Monday jumped 292 points to close at 28,095, while Nifty closed at a 12-month high of 8,636, surging 94 points. The banking sector led the domestic stock rally, with Bank of Baroda and State Bank of India seeing a 3-4% hike. The National Bank Exchange, a banking sub-index, also rose 1.8%, NDTV Profit reported.
Shares of realty, energy and consumer durables improved by nearly 1.5%. Energy shares gained amid reports that the Cabinet Secretariat has introduced a proposal suggesting a merger of 13 public sector undertaking oil firms. Only eight stocks in Nifty ended lower, including Dr Reddy's Labs, Hindalco and Bajaj Auto.