Stock markets extend recent gains to hit 2-1/2-month highs

MUMBAI (Reuters) - India's stock markets hit their highest in 2-1/2 months on Friday and posted their third consecutive weekly gain given a Greece default is seen as factored in, while better-than-expected progress of the monsoon also helped sentiment. Among gainers, HDFC Bank Ltd rose 1.5 percent on relative valuations, while drugmaker Lupin Ltd rose 1.7 percent after an acquisition in Russia. The Nifty rose 0.47 percent to end at 8,484.90, after earlier hitting its highest level since April 23. It advanced 1.2 percent for the week. The BSE Sensex rose 0.53 percent and closed at 28,092.79, after earlier hitting its highest level since April 20. It gained 1 percent for the week. (Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)