Sensex climbs 363 points to 3-week high as monsoon spurs rate-cut bets

Indian stocks climbed to a three-week high, with the benchmark index extending last week’s advance, after a report on the monsoon’s progress bolstered expectations of a reduction in borrowing costs.

Tata Power Co. Ltd, the biggest non-state generator, advanced to a two-week high, while Bajaj Auto Ltd increased for a third day. Hindalco Industries Ltd, India’s second-largest aluminium producer, rose to a one-week high. Indian Oil Corp. Ltd paced gains among refiners after raising fuel prices. GAIL India Ltd was the best performer on the S&P BSE Sensex