Mumbai, Sept. 1 -- The domestic equity benchmarks staged a strong comeback on Monday, snapping a three-day losing streak, as upbeat GDP data boosted investor confidence. The Nifty closed above the 24,600 mark, powered by gains in auto and consumer durables stocks.

India's Q1 GDP rose 7.8%, surpassing expectations and reinforcing confidence in the economy's resilience despite global headwinds. Hopes of GST rationalisation at the upcoming council meeting further supported discretionary demand, particularly in auto and durables.

The S&P BSE Sensex advanced 554.84 points or 0.70% to 80,364.49. The Nifty 50 index added 198.20 points or 0.81% to 24,625.05. In the previous three sessions, the Sensex slumped 2.23% and the Nifty tumbled 2.16%. ...