Mumbai: The BSE Sensex and Nifty rose more than 1 per cent on Monday to mark their biggest daily gain in more than one week after the government's energy reforms led to a rally in oil firms, while wins by Bhartiya Janta Party in Maharashtra and Haryana assembly polls raised expectations for additional reforms.
Sensex soars over 321 points to end at 26429.85 and Nifty rises about 100 points to close at 7879.40.
The government on Saturday removed diesel price controls and raised the cost of natural gas. Analysts said markets will now expect more measures after results on Sunday showed the Bharatiya Janata Party won elections in the states of Maharashtra and Haryana.
Oil and Natural Gas Corp (ONGC.NS) provisionally gained 5 percent, while refiners such as Hindustan Petroleum Corp jumped 6.8 per cent.
The Sensex provisionally closed 1.21 per cent higher, while the broader Nifty gained 1.25 percent, marking their biggest daily gains since October 9.
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