Equity benchmark Sensex rallied over 600 points in early trade on Monday, tracking gains in index majors ICICI Bank, Reliance Industries and Kotak Bank amid positive trend in global markets. The 30-share BSE index was trading 641.35 points or 1.34 per cent higher at 48,519.80. Similarly, the broader NSE Nifty jumped 178.90 points or 1.25 per cent to 14,520.25.

ICICI Bank was the top gainer in the Sensex pack, rallying around 5 per cent, after the lender on Saturday reported a nearly four-fold jump in its March quarter consolidated profit at Rs 4,886 crore, as against Rs 1,251 crore in the year-ago period.