Intense buying in IT and commodity stocks also bolstered the market sentiment.

Foreign institutional investors (FIIs) on Monday sold shares of Indian companies worth Rs 10,200.96 crore and bought stocks for ₹6,833.29 crore, resulting in an outflow of ₹3,367.67 crore, according to NSE data.

Domestic institutional investors (DIIs) bought equities worth ₹10,461.54 crore and offloaded shares worth ₹7,898.06 crore, resulting in an inflow of ₹2,563.48 crore, the exchange data showed.

The BSE benchmark Sensex climbed 240.98 points, or 0.37%, to end at 65,628.14. 

During the day, it touched a level of 65,683.91.

The Nifty added 93.50 points, or 0.48%, at 19,528.80.

The Sensex on Friday had closed up by 555.75 points, or 0.86%, at 65,387.16.

On Monday, the market capitalisation (m-cap) of companies listed on the BSE reached a record high of ₹315 lakh crore.

The m-cap was boosted by strong investor sentiments amid encouraging economic data and a firm trend in global stocks.

In past two sessions, investors’ wealth rose by ₹5,41,951.7 crore. 

According to a report released on Friday, manufacturing in India gained momentum in August as new orders and output rose at fastest rates in nearly three years.

GST collections surged by 11% at over ₹1.59 lakh crore in August.

Sales of domestic passenger vehicles hit a record in August, led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand. 

The Indian rupee fell by 9 paise to close at 82.71 against the US dollar on Monday.

It was weighed down by a rise in oil prices and strength of the American currency in the overseas market.

The Indian currency opened at 82.71 against the US dollar and moved in a range of 82.67 to 82.77 in the day trade.

Updated: 04 Sep 2023, 10:30 PM IST