The Sensex and Nifty recorded gains at the back of the strong performances in the Asian markets driven by boost in oil prices. The investors eagerly await the results of the monetary policies of key central bank meetings in the United States and Japan scheduled later in the week.
The BSE Sensex ended with a gain of 36 points at 28,635. The BSE Sensex opened at 28,627 touched an intra-day high of 28,715 and low of 28,553. The NSE Nifty closed with a gain of 29 points at 8,808. The NSE Nifty opened at 8,788.45 hitting a high of 8,824 and low of 8,774.20.
Risk appetite also improved following gains in global oil prices after Venezuela said OPEC and non-OPEC producers were close to reaching an output stabilizing deal.
Most of the BSE sectoral indices were trading in the positive zone except the FMCG sector which was in the red.
Software services exporters contributed the most to Monday's gains with the Nifty IT index rising 1.06 per cent. Tata Consultancy Services posted its biggest intraday percentage jump in over a month and was the top percentage gainer.
Markets reports that talked about Future Group's acquisition of Heritage Foods's retail business division has helped the share price of the company to gain by 8.56 per cent to a record high of Rs. 890.
ICICI Prudential Life Insurance Co's IPO which was subscribed earlier in the day helped the bank gain 1.9 per cent.