The benchmark BSE Sensex rose for the third day ending about 330 points higher led by banking, FMCG and auto stocks amid a firm trend in the global markets.

The NSE reclaimed the 8,300-mark amid positive domestic factors after the introduction of GST Bill in the Lok Sabha on Friday. The 50-share index soared 98.80 points, or 1.20 per cent to close at 8,324.

The 30-share Sensex spurted 329.95 points, or 1.21 per cent, to 27,701.79. It touched the day’s high of 27,725.27.

Of the 30-Sensex scrips, 26 stocks ended with gains.

Mahindra and Mahindra rose the most by 4.09 per cent among Sensex stocks, followed by Coal India which gained 3.61 per cent.

State-run BHEL spurted by 2.67 per cent to Rs 265.75 after company bagged a 16.96 million euro contract for a thermal power project in Turkey.

HDFC Bank, HDFC Ltd, GAIL, ONGC, NTPC, Tata Motors, Bharti Airtel, Axis Bank and Hero MotoCorp also contributed to the Sensex rally.

Brokers said buying emerged on hopes of acceleration in economic reforms after the much-awaited GST Bill, which provides for an overhaul of the taxation system, was introduced in the Lok Sabha on Friday.

Asian and European markets extended gains on a rally in crude prices which supported the rally at domestic markets, the brokers said.

Sectorally, the BSE PSU sector index gained the most by rising 1.72 per cent, followed by Power index (up 1.48%), FMCG index (up 1.47%) and Banking index (1.47%).

Auto index rose 1.4%, Consumer Durables index 1.33%, Metal index 1.28%, Oil & Gas index 1.18% and Realty index was up 1.06%

In line with overall trends, the Midcap index gained 0.92 per cent and Smallcap index by 0.35 per cent.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 668.85 crore last Friday, as per provisional data.

Early trade

The Nifty and the Sensex with a gap -up on Monday following Asian cues. The Nifty opened 30 points up at 8,255, while the Sensex opened 108 points up at 27,480.

A report by SMC Investments and Advisors said: "Asian stocks rose as demand for oil showed a slight rebound making for an overall positive macroeconomic indicator. Western markets rejoiced a rather fruitful year on their bourses nearing the close on a positive note.China eased restrictions on branch openings and yuan transactions by foreign banks as it opens its domestic financial industry.''

European markets

World share markets extended their ‘Santa rally’ into a fourth day on Monday, as a recovery in beaten-down oil prices and the rouble and more calls for quantitative easing from the ECB helped lift the sentiment.

Asian markets

Asian shares took their cues from Wall Street and kicked off a holiday-shortened week on a strong footing on Monday. MSCI's index of Asia-Pacific shares outside Japan extended gains and was up 1.1 percent.

Activity was likely to be thin this week, with many investors away for Christmas and the run-up to New Year's holiday and many investors not wanting to end the year with dollar-short positions.

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