Nifty on niftyMonday hit a near three-month high, in tandem with global markets, as technology shares gained during the day.

IT stocks rose, with the Nifty IT index gaining as much as 1.5% aided by the recent weakness in the rupee.

Gains were, however, capped as index heavyweight Reliance Industries fell as much as much as 3.5%, its biggest percentage loss since 2 February, after result from the oil-to-retail conglomerate’s telecoms arm Jio failed to cheer investors.

Equity markets will be closed on Tuedsay on account of Maharashtra Day.

On the global front, US Federal Reserve’s Federal Open Market Committee (FOMC) will announce the decision on the interest rate on Wednesday. It is widely expected that the central bank will keep rates unchanged in May 2018, but will raise them again in June 2018.