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The S&P BSE Sensex surged over 300 points in morning trade on Monday following positive trend seen in other Asian markets. The rally in the index was led by gains in HDFC, ICICI Bank, L&T, TCS, and HDFC Bank.

The 50-share Nifty index also regained its crucial psychological level of 8000, supported by gains in IT, auto, banks, capital goods, and consumer durable stocks. 
Crude prices edged up on Monday after Russia said it was prepared to meet other producers to discuss the situation in the global oil market, while a report showed a fifth weekly decline in the U.S. oil rig count.

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