The BSE gauge Sensex rallied over 270 points and the NSE Nifty reclaimed the key 15,000-level in early trade on Monday, tracking a robust recovery in global shares. The 30-share Sensex was trading at 50,679.19, showing a rise of 273.87 points or 0.54 percent.
Likewise, the broader Nifty was quoted at 15,015.05, up 76.95 points or 0.52 percent. On the Sensex chart, ONGC, NTPC, Axis Bank, M&M, HDFC Bank, and SBI were major gainers climbing as much as 4.3 percent.
Of the Sensex shares, 21 traded in the green. In other Asian markets, equities staged a strong recovery after witnessing panic sell-offs for a couple of sessions as investors cheered the US Senate passing a USD 1.9 trillion stimulus bill for COVID-19 relief package.
Investor worries also subsided after the rise in bond yields steadied and the US labour department reported stronger-than-expected jobs data for February. Meanwhile, global crude oil benchmark Brent Futures rose 1.49 percent to USD 70.73 per barrel.
On Friday, the Sensex had dropped by 440.76 points or 0.87 percent, and the Nifty had ended lower by 142.65 points or 0.95 percent. On a weekly basis, however, the Sensex had gained 1,305.33 points or 2.65 percent and the Nifty added 408.95 points or 2.81 percent.
Foreign investors offloaded equities worth Rs 2,014.16 crore on a net basis in Indian capital markets on Friday, according to exchange data.