Mumbai: Stock markets rose sharply on Monday, buoyed by plans for big bang reforms in the GST regime by Diwali. Sensex jumped 676.09 points or 0.84% to settle at 81,273.75.

Nifty climbed 245.65 points or 1% to end at 24,876.95. Global rating agency S&P upgrading India’s sovereign credit rating also boosted the sentiment, analysts said.

Among Sensex firms, Maruti zoomed the most by 8.94%. Bajaj Finance, UltraTech Cement, Bajaj Finserv, Mahindra & Mahindra, Hindustan Unilever and Trent were among other major gainers from the pack.

However, ITC, Eternal, Tech Mahindra and Larsen & Toubro declined. Auto stocks were in high demand, with Hyundai Motor India jumping 8.45%.