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The BSE benchmark Sensex ended higher by over 460 points tracking positive cues from other Asian markets amid heavy buying by domestic institutional investors.
The 30-share BSE index Sensex closed higher by 464.77 points or 1.30 per cent at 36,318.66 and the 50-share NSE index Nifty ended up 149.20 points or 1.39 per cent at 10,886.80.
The Sensex hit an intraday high of 36,349.31 and a low of 35,950.08. Similarly, the Nifty touched an intraday high of 10,896.95 and a low of 10,777.55. The market breadth was positive as 1,548 shares advanced, against a decline of 996 shares, while 166 shares were unchanged.
Among BSE sectoral indices, refiners index gained the most by 3.07 per cent, followed by IT-Software 2.86 per cent, Telecom Services 2.08 per cent and Mining and Minerals 1.35 per cent.
Top five Sensex gainers were Wipro (5.49%), Yes Bank (+4.07%), TechMahindra (3.85%), Infosys (3.76%), Reliance Industries (3.11%), TCS (2.91%) and Vedanta (2.98%), while the major losers were Maruti (-0.91%), PowerGrid (-0.10%), ICICI Bank (-0.09%) and Infratel (-0.04%).
Besides positive cues from other Asian markets, investor mood was boosted by encouraging macroeconomic numbers released on Monday.
Retail inflation declined to an 18-month low of 2.19 per cent in December 2018 mainly on account of sliding prices of fruits, vegetables and fuel.
Another set of official data showed that the wholesale inflation too eased to an eight-month low of 3.80 per cent in December.
Additionally, US-China trade war, rising crude oil prices, foreign fund outflow and the upcoming general elections will keep the market volatile in the short term, said Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 732.46 crore Monday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 527.49 crore, provisional data available with BSE showed.
The Rupee, meanwhile, was trading flat against the US dollar at 70.91.
The benchmark Brent crude futures rose 1.17 per cent to $59.68 per barrel.
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