Market benchmark BSE Sensex ended 160 points higher on Monday driven by heavy gains in index heavyweight Infosys and positive macroeconomic cues.
After swinging 327 points during the day, the 30-share index settled 160.48 points or 0.41 per cent higher at 38,896.71. The index hit an intra-day high of 39,023.97 and a low of 38,696.60.
The broader NSE Nifty ended 35.85 points, or 0.31 per cent, up at 11,588.35. During the day, the index hit a high of 11,618.40 and a low of 11,532.30.
Infosys was the top gainer in the Sensex pack, closing 7.20 per cent higher as investors cheered its financial results.
The IT major posted better-than-expected 5.3 per cent rise in its June quarter net profit, and raised revenue growth forecast for the current fiscal.
Rival TCS too jumped 1.77 per cent.
Other gainers included Sun Pharma, TechM, Maruti, Kotak Bank, Bajaj Finance and HDFC twins, ending up to 3.61 per cent higher.
On the other hand, IndusInd Bank, L&T, ITC, Bharti Airtel, ICICI Bank, Yes Bank, SBI and Hero MotoCorp lost up to 2.28 per cent.
Besides the rally in Infosys, wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02 per cent in June, traders said.
Inflation in food articles basket eased marginally to 6.98 per cent in June, from 6.99 per cent in May. Vegetable inflation too softened to 24.76 per cent in June, down from 33.15 per cent in the previous month.
Elsewhere in Asia, Shanghai Composite Index, Hang Seng and Nikkei ended in the green, while Kospi settled in the red.
Equities in Europe were trading lower in their respective early sessions.
On the currency front, the Indian rupee appreciated 17 paise to 68.52 against the US dollar (intra-day).
Meanwhile, the global oil benchmark Brent crude futures were trading 0.42 per cent higher at USD 67 per barrel.