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The Sensex and the Nifty ended the session near flat after hitting all-time highs in early trade on heavy selling in capital goods and oil & gas counters, despite buying in FMCG and consumer durables sector stocks.
The 30-share BSE index Sensex ended at 27,874.73, up 6.1 points and the 50-share NSE index Nifty ended at 8,344.25, up 7.25 points.
Among BSE sectoral indices, oil & gas index fell the most by 1.29 per cent, followed by capital goods 1.01 per cent, banking 0.53 per cent and PSU 0.48 per cent. On the other hand, FMCG and consumer durables stocks were the star-performers and were up 2.81 per cent and 1.00 per cent, respectively.
ITC, Sun Pharma,Tata Power, Coal India and HUL were the major Sensex gainers, while the major losers were ONGC, Hindalco, Tata Motors, L&T and Axis Bank.
The Sensex resumed higher at 27,919.45 and firmed up further to an all-time high of 28,027.96 on the back of strong foreign capital inflows into the equity market coupled with mixed Asian cues. The CNX 50-share Nifty also hit a life-time high of 8,383.05.
Brokers said sustained foreign funds inflow and widespread buying by investors on hopes of acceleration in economic reforms process after Prime Minister Narendra Modi expanded his Council of Ministers, mainly buoyed the trading sentiment, lifting the key indices to new highs in early trade.
Domestic sentiment was also buoyed in early trade as Finance Minister Arun Jaitley had yesterday said that the government will amend the tough land acquisition law.
European stocks inched higher early on Monday, reversing some of the previous session's losses, with Nutreco surging 14 per cent as SHV sweetened its takeover bid for the Dutch animal feed and nutrition company.
At 0850 GMT, the FTSEurofirst 300 index of top European shares was up 0.3 per cent at 1,348.80 points, after losing 0.5 per cent last week.
Mixed trading was witnessed in the Asian markets after US jobs data pointed to solid economic growth, while China's export performance showed more resilience than some had expected.
US employers added 214,000 jobs in October, slightly below economists' median forecast of 231,000, but logging the ninth consecutive month of gains of more than 200,000, the longest stretch since 1994.
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