BENGALURU, Jan 29 Reuters Indian shares surged in their best session in eight weeks on Monday, driven by gains in energy heavyweights Reliance Industries and ONGC as oil prices climbed, and by a rebound in beatendown financials.

The bluechip NSE Nifty 50 index closed 1.80 higher at 21,737.60 and the SP BSE Sensex ended 1.76 higher at 71,941.57 in their biggest oneday percentage gains since Dec. 4.

India39;s budget announcement is due on Feb. 1 and expectations of a hike in allocations in sectors like energy, infrastructure, defence and capital goods … also aided the rally, said Deven Choksey, managing director at DRChoksey FinServ.

Besides that, the market also got a boost from strong cues from the rise in Asian markets, which were led by China after the country39;s markets regulator said it would fully suspend the lending of restricted shares, in an attempt to stabilise its stock markets.

Domestically, 12 of the 13 sectors logged gains. Energy and oil and gas stocks surged over 5 each to record highs.

Oiltoretail conglomerate Reliance Industries, which has the secondheaviest weightage on the Nifty, rose 7 to a record high, while Oil and Natural Gas Corp ONGC shares also jumped about 8, both aided by crude oil hitting an eightweek high.

Financial services, which has the highest weightage among all sectors, added 1.56. They had slid 6.3 in the last seven sessions after HDFC Bank39;s disappointing results. HDFC Bank rose 1.34.

Among individual stocks, Adani…