The Sensex and Nifty closed higher in trade today powered by gains in consumer durables and information technology stocks. While the Sensex closed 155 points higher at 35,850, Nifty ended 49 points in the green at 10,776 level.
Of 30 Sensex stocks, 21 ended in the green.
Axis Bank (2.84%), Tata Motors (2.64%) and Infosys (1.57%) were the top Sensex gainers. Top Sensex losers were Bajaj Auto (2.82%), YES Bank (1.35%) and Hero MotoCorp (1.11%).
Top sectoral gainers were consumer durables stocks with the BSE index rising 218 points to 20,787 level.
Top sectoral losers were the healthcare stocks after the BSE healthcare index lost 53 points to 13,769 level.
On Friday, the Sensex and Nifty closed higher powered by gains in banking and metal stocks. While the Sensex closed 181 points higher at 35,695, Nifty ended 55 points in the green at 10,727 level.
"We have positive outcome from the US and China, our market is showing relatively better signs of stability due to this," said Deven Choksey, founder, KR Choksey Investment Managers.
"Markets are not expecting too much from the earnings season, we remain relatively more cautious on that front at this point of time."Meanwhile, the BSE mid cap and small cap indices closed 4 points and 8.5 points higher in trade today.
Market breadth was positive with 1314 stocks closing higher compared with 1287 ending lower on the BSE.
Brent crude, used to price international oils, gained $1.17 to $58.23 per barrel. It rose 2 percent to $57.06 per barrel in London.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 157.72 crore on Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 240.6 crore, provisional data available with BSE showed.
The YES Bank stock rose in early trade today ahead of a board meeting on January 9 to finalise the name of its CEO and MD candidate to replace Rana Kapoor whose term ends January 31. Subsequently, the name will be sent to the Reserve Bank of India for approval. The stock rose up to 2.51% to 194.25 level today compared to the previous close of 189.50 on the BSE. However, the stock closed 1.35% lower at 186.95 level on the BSE after investors booked profit.
The Titan Company rose in trade today after the Tata Group firm said it expects the full-year growth in jewellery business to be around 22 percent. The large cap stock rose intra day 3.82% to 964 level on the BSE compared to its previous close of 928.55. The stock which opened with a gain of 2.31% at 950 hit an intra day low of 946.80. It closed 1.61% higher at 943.50 on the BSE. The stock was among the top Nifty gainers today, rising 2.11% to 948 level.
European markets turned lower after a marginally higher open on Monday following an upbeat Asian session. All eyes were on talks in Beijing, where American and Chinese officials are haggling over a trade dispute that threatens to worsen an economic slowdown and put a drag on the global economy.
In Europe, Germany's DAX lost 0.1 percent to 10,755.23 while France's CAC 40 dropped 0.2 percent to 4,728.35. Britain's FTSE 100 shed 0.2 percent to 6,825.18. Wall Street was set to build on gains from Friday.
Japan's benchmark, bouncing back from steep losses last week, started the day trading over 3 percent higher. The Nikkei 225 index gained 2.4 percent to 20,038.97, while South Korea's Kospi gained 1.3 percent to 2,037.10. Australia's S&P-ASX 200 added 1.1 percent to 5,683.20. Hong Kong's Hang Seng climbed 0.8 percent to 25,835.70 and the Shanghai Composite index rose 0.7 percent to 2,533.09. Shares rallied in Taiwan and throughout Southeast Asia.
US indexes soared Friday after the Labor Department announced that employers added a better-than-expected 312,000 jobs in December.
Edited by Aseem Thapliyal