The stock markets in India extended gains on January 2 with the benchmark indices surging nearly 2 percent each after consolidating within a range for almost two weeks amid heavy buying in financial, auto and IT shares.

Sensex jumped 1,436.30 points or 1.83 percent — its best single-day gain in more than a month — to settle at 79,943.71. During the day, it soared 1,525.46 points or 1.94 percent to 80,032.87.

NSE Nifty surged 445.75 points or 1.88 percent to 24,188.65. During the day, it surged 483.8 points or 2.03 percent at 24,226.70.

The December GST mop up rose by 7.3 percent on-year to Rs 1.77 lakh crore, reflecting a rebound in consumption activities. Analysts believe this uptick signals improving economic momentum, which could bolster investor sentiment. “Despite increased refunds for both domestic and export sectors, the robust GST collection reflects steady