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The S&P BSE Sensex rallied over 300 points in Monday morning trade on Monday led by gains in ITC, HDFC, HDFC Bank, Infosys, L&T, and RIL.The Nifty50 surged above its crucial level of 7,800 supported by gains in realty, power, metal, capital goods, banks, and auto stocks. 

Maker of watches and jewellery Titan Company Ltd falls as much as 3 pct.Company posted a 14.4 pct fall in March-quarter net profit.Company says weak market conditions and new regulatory restrictions for the jewellery business impacts profit.Jewellers were on strike for most of March after govt announced an excise duty in the 2016-17 budget.Elara Capital says results a "disappointment on all counts", believes Titan's watches segment will find it tougher to grow, with heavy online discounts to impact sales.Broker cuts rating to "sell" from "reduce", PT reduced to 289 rupees from 331 rupees .