Nifty surges to mark biggest quarterly gains since March 2012

Mumbai: The Nifty rose 1.24 per cent on Monday as investors bought shares in recent outperformers such as State Bank of India, allowing the broader index to post its best quarterly gain since January-March 2012.

The Nifty provisionally rose 13.36 per cent in the quarter concluded on Monday, the best performer in the Asia-Pacific, on a rally spurred by hopes the election of Narendra Modi as the country's prime minister in May 2014 would spur a period of economic reforms.

On Monday the Nifty provisionally gained 1.37 per cent at 7,611.35 points, gaining 5.3 per cent this month.

The benchmark BSE Sensex closed 1.25 per cent higher at 25,413.78 points. The index gained 4.9 per cent this month and 13.5 per cent in the April-June quarter.