Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 surged to their highest closing levels in 11 weeks on Monday boosted by strength across sectors. Financial stocks were the biggest movers for both Sensex and Nifty led by HDFC and HDFC Bank, which saw their biggest intraday gains in 13 years after the companies announced a merger. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 1.6 percent each for the day. Globally, news updates about the ongoing Russia-Ukraine war and its impact on financial markets remained on investors' radar.

HDFC and HDFC Bank shares surged amid large volumes on Monday after the companies announced a merger subject to shareholder and regulatory approvals.

In an interview with CNBC-TV18, Kenneth Fisher, Founder, Executive Chairman, Co-Chief Investment Officer of Fisher Investments, said that he expects global stock market returns to be in double-digits in 2022. He also believes that while cryptos are a risk, they aren't likely to be one in the coming year.

The USFDA (US Food and Drug Administration) has concluded an inspection at Lupin's wholly-owned subsidiary Novel Laboratories, Inc., based in Somerset, New Jersey. The inspection commenced on March 7, 2022 and concluded on March 30, 2022, Lupin Ltd said in a regulatory filing.