March 11, 2019 / 5:43 AM / 3 months ago

Sensex, Nifty rise 1 percent; energy stocks drive gains

A television journalist films the facade of the Bombay Stock Exchange during the telecast of interim budget, in Mumbai, India, February 1, 2019. REUTERS/Francis Mascarenhas/Files

(Reuters) - The Sensex and the Nifty rose more than 1 percent on Monday, led by energy stocks, as expectations that Prime Minister Narendra Modi-led coalition would return to power after the general election boosted sentiment.

India’s ruling party alliance was likely to come within a few seats of winning a simple majority in parliament at the general election set to start on April 11, a nationwide opinion poll has shown.

The Sensex closed up 1.04 percent at 37,054.1. The Nifty ended 1.20 percent higher at 11,168.05, its highest level since September.

Index-heavyweight Reliance Industries Ltd rose 2.9 percent while Bharti Airtel Ltd was the top percentage gainer on the NSE index, jumping 8.13 percent.

Reporting by Arnab Paul in Bengaluru; Editing by Shreejay Sinha

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