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Indian shares ended higher on Monday, supported by solid gains in oil-to-retail conglomerate Reliance Industries Ltd, while Kotak Mahindra Bank closed at an over six-week high after reporting strong quarterly results.
The broader NSE index ended 0.5 percent firmer at 10,961.85, while the benchmark BSE index ended 0.53 percent higher at 36,578.96, its best closing level since Sept. 25, 2018.
Reliance Industries, India's biggest company by market value, led the gains, ending up 4.5 percent at its best closing level since Sept. 28. This is the stock's second straight session of gains after reporting record quarterly results.
Kotak Mahindra Bank closed up 2.2 percent after posting a 23 percent rise in third-quarter net profit.
In broader Asia, markets kept calm as data showed the Chinese economy slowed at the end of last year, underlining the urgent need for more stimulus as Beijing wrestles with the United States over trade.
"The market momentum has continued into this week," said Siddhartha Khemka, head of retail research at Motilal Oswal Securities. "Stocks, especially heavyweights, have gained on the back of last week's good quarterly numbers, and that has buoyed the sentiment."
Back home, oil-to-retail conglomerate Reliance Industries climbed 3.2 percent to its highest since Oct. 3 in its second session of gains after reporting record quarterly numbers.
The stock accounted for the biggest share of gains in the indexes.
The Indian rupee weakened as oil prices climbed to 2019 highs, giving IT stocks a lift.
Infosys Ltd rose 2.7 percent to its highest since Oct. 3, while Tata Consultancy Services Ltd, up for a fifth straight session, advanced 1.7 percent.
Meanwhile, rival software services provider Wipro Ltd fell as much as 3.6 percent after it forecast a soft March quarter in terms of IT services revenue.
Sun Pharmaceutical Industries Ltd, which had tumbled over 14 percent last week on reports of a fresh whistleblower complaint, rose as much as 4 percent on Monday.
HDFC Bank, India's biggest lender by market value, rose 1.6 percent to a near 25-week high after reporting a 20.31 percent rise in third-quarter net profit.
Construction giant Larsen & Toubro Ltd dropped 3.4 percent to its lowest since Oct. 31 after India's capital market regulator, SEBI, advised the company against proceeding with its proposed share buyback worth 90 billion rupees. It clawed back some losses to trade largely flat by 0522 GMT.

Copyright Reuters, 2019

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