By Bharath Rajeswaran (Reuters) -Indian shares extended their rally on Monday after Prime Minister Modi's party and its allies scored a decisive win in the country's richest state of Maharashtra. The NSE Nifty 50 rose 1.

Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Stock benchmarks in India surged on Monday as Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance secured a thumping victory in the nation’s wealthiest state of Maharashtra.

Indian indices extended gains on Monday after Prime Minister Modi's party and his allies secured victory in the state of Maharashtra. The BJP's win provided some relief to the market, as the election outcome ended political instability in the Indian state.

By Bharath Rajeswaran (Reuters) -Indian shares advanced on Monday after logging their best session since early June on Friday, as the ruling alliance's victory in the Maharashtra state election over the weekend boosted sentiment.