The S&P BSE Sensex continued its winning streak for the third consecutive session on Monday, rising by 150 points on the back of upbeat quarterly results from index heavy-weight Reliance Industries and positive global cues.

The Sensex closed at 27,364 points, up 0.55%, while the 50-share Nifty rose by 37 points, or 0.45%, to end at 8,275.

The stock price of Mukesh-Ambani-led Reliance Industries (RIL) rose 5.5% to Rs 962 after the company declared 12.5% growth in its net profit for the July-September quarter.

"Selective companies, especially leaders in sectors, would show better results than others as the economy improves," Deven Choksey, managing director at K R Choksey Securities, told NDTV Profit.

Meanwhile, an official data showed that China's gross domestic product (GDP) grew more-than-expected in the July-September quarter, easing concerns over a hard landing of the world's second largest economy. China's GDP rose at an annualised rate of 6.9% in the quarter.

"The data shows no signs of a collapse in the Chinese economy and, as such, brings a little relief to overall very pessimistic expectations for China," said Danske Bank in a note.

However, Tata Motors share prices, which often react positively to Chinese economic data, fell 1.8% on profit booking. Its share price has gone up nearly 30% since the beginning of October.

On the other hand, Infosys ended 1.9% higher after the company announced that it would acquire Houston-based Noah Consulting in an all-cash deal worth $70 million, or Rs 450 crore.

"The acquisition is small and would not impact the financials in a big way. We maintain our BUY with a price target of INR 1306," said Angel Broking in a note.

Aviation stocks also witnessed heavy buying ahead of an initial public offering (IPO) from Indigo. Spicejet shares ended nearly 10% higher, while Jet Airways shares gained about 9%.

Among the BSE sectoral indices, Realty was the top gainer ending 2.5% higher, followed by Healthcare and IT, which gained 1.2% and 1.1%, respectively.

HCL Tech shares ended 1.9% highest after the company announced a 50 bps expansion in operating margins, while the markets had expected it to decline.

"Sustained impressive deal win momentum and substantial order book provides visibility that HCL Tech will be able to accelerate growth above the industry in coming years. The operating margin is also expected to recover gradually. Post the recent steep price correction, the stock trades at 13x FY17 P/E which is quite attractive," said Amar Ambani, Head of Research, IIFL.

While HUL, Sun Pharma and Dr.Reddy's were among the top gainers, ONGC, Tata Steel, Tata Motors, Ultratech Cement and Adani Port were among the top losers.

On the commidity front, gold prices fell Rs 100 to close at Rs 27,150 per 10 grams, while silver prices ended Rs 200 down Rs 37,100 per kg.

 The rupee continued to show strength although it gained by just one paisa to 64.80 against the US dollar.