BENGALURU: Indian shares ended 1% higher on Monday, extending their rally from last week, as a declining trend in daily Covid-19 cases buoyed investor sentiment ahead of GDP data for the first three months of the year.

The blue-chip NSE Nifty 50 index rose 0.95% to 15,582.80 at close, while the benchmark S&P BSE Sensex climbed 1% to 51,937.44. The indexes posted gains of around 2% each last week, with the Nifty closing at a record high on Friday.

Indian bond yields also edged higher, following the government’s decision to further increase its market borrowing.

Energy and financials provided the biggest support, with the Nifty energy index climbing 1.75%, the second highest most among sub-indexes. The Nifty Bank Index closed 1.10% higher and the Nifty Private Bank Index rose 1.09%.