Sensex Jumps Over 300 Points; Nifty Nears 11,150

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Indian shares rose on Monday to hit fresh record highs as investors looked ahead to the release of the Economic Survey and the commencement of the crucial Budget session of Parliament.

Global cues also remained positive amid upbeat corporate earnings and optimism over strong global growth.

The benchmark BSE Sensex was up 302 points or 0.84 percent at 36,353 in early trade while the broader Nifty index was up 73 points or 0.66 percent at 11,142.80.

Realty firms like DLF and Sobha were up around 1 percent each after the government cut GST rate from 12 percent to 8 percent for houses purchased using the credit-linked subsidy scheme under Pradhan Mantri Awas Yojna.

HDFC advanced 1.6 percent and IDFC rose half a percent ahead of their quarterly results due today.

Maruti Suzuki jumped over 3 percent after the country's largest carmaker reported 3 percent annual growth in profit for the December quarter, matching analysts' estimates.

Avenue Supermarts climbed 8 percent after its Q3 standalone net profit soared 66 percent.

JSW Steel gained 1.5 percent on a PTI report that it is likely to double its bid value for debt-laden Bhushan Steel.

Bharti Airtel lost nearly 3 percent, Idea Cellular fell over 2 percent and Reliance Communications fell 1 percent after Reliance Jio Infocomm launched the Rs 49 per month plan for its feature phone users.