Bombay Stock Exchange (BSE) benchmark index Sensex started Monday's session with a surge of over 300 points to trade above the key 35,000 level, tracking strong global markets.
Gains were led by buying witnessed across banking and auto shares.
The NSE Nifty rose 74 points to touch 10,770 in early deals.
Thirty six stocks on the 50-scrip index were trading with advances.
Top gainers on the index wereHDFC Bank, IndusInd Bank, Dr Reddy's Laboratories, HPCL and Tata Motors, trading between 1.6 per cent and 2.4 per cent higher.Banking stocks soared, with the Nifty Bank - the NSE's sectoral index for banking shares - rising 1.3 per cent.IndusInd Bank rose as much as 2.5 per cent, PNB 1.5 per cent and Kotak Mahindra Bank 1.2 per cent.Total GST collection for May 2018 was Rs.
94,016 crore, higher than average monthly collection of Rs.
89,885 crore in 2017-18, Finance Secretary Hasmukh Adhia said on Friday.
He further said that this reflects better compliance after introduction of e-way bills.
The number of returns filed for the month of April up to May 31 rose to 62.46 lakh as against 60.47 lakh for March till April 30."Analysts think that these numbers are good considering the disruption seen due to the introduction of the E-Way bill," said VK Sharma, head private client group and capital market strategy at HDFC Securities.Equities in other Asian markets rose to their highest level in two-and-a-half-weeks.
Strong US jobs data offset worries that tariff wars between the US and the rest of the world could drag on global economic growth.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.0 per cent to a high last seen on May 17, while Japan's Nikkei rose 1.3 per cent.Overnight on Wall Street, the Nasdaq Composite rose 1.51 per cent, near its record closing high of 7,588 marked in March.Foreign portfolio investors (FPIs) net sold shares worth Rs.
202.8 crore on Friday and domestic institutional investors (DIIs) net purchased equities worth Rs.
337.97 crore, provisional data from the NSE showed.(With agency inputs)