The benchmark Sensex ended about 0.5 per cent higher on Monday as investors mounted more bullish bets amid good progress in monsoon rains and firming Asian cues.

Sensex gained 134 points or 0.49 per cent to end at 27,278.76 while the NSE Nifty was up 42.35 points or 0.51 per cent at 8,370.70.

The Nifty and the Sensex had opened positive on strong global cues. The Nifty opened 49 points up at 8,377 while the Sensex opened 169 points up at 27,314.

The Sensex had gained 747.20 points in the previous five sessions.

The big movers during the day were Adani Ports (+4.2%), ONGC (+3.4%), ICICI Bank (+2.97%), Tata Motors (+2.4%), Coal India (+2.37%), L&T (+1.59%), SBI (+1.46%), Reliance (+1.34%) and Tata Steel ( +1.18%).

ITC lost about 2.97 per cent on the BSE to end at Rs 244.85. It was the biggest loser on the Sensex. Dr Reddy's, HUL, Bajaj Auto, NTPC, Asian Paints and TCS declined by up to 1.2 per cent.

All sectoral indices barring FMCG ended in the green.

Realty, oil and gas, industrials, energy metal and informational technology were among the big gainers among the BSE sectoral indices, trading higher by up to 2.4 per cent.

"Following a steady recovery last week, the market was in consolidation mode today. The consolidation is expected to continue in the weeks to come. The uptick in the market was led by strong performances of public sector bank stocks," according to Gaurang Shah, Vice President, Geojit BNP Paribas Financial Services Ltd.

Brokers said sustained buying by investors and domestic financial institutions and positive cues from other Asian markets driven by a post—Brexit rally on hopes that central banks will step up stimulus measures bolstered sentiment here.

Good progress in monsoon rains so far kept things upbeat too, they added.

In the rest of Asia, the Nikkei rose 0.6 per cent to 15,775.80, posting six days of gains, the longest winning streak since November. Hong Kong’s Hang Seng rose 1.44 per cent while Shanghai Composite climbed 1.66 per cent.

European markets

The post-Brexit recovery across European markets stalled on Monday with major share indexes mixed and safe-haven demand for precious metals helping the price of silver surge to a near-two year high.

Light trading volumes because of the July 4 public holiday in the United States is likely to keep markets choppy through the day.

Europe's Stoxx 600 fell 0.4 per cent and London's FTSE 100 fell 0.2 per cent with weaker financials offsetting gains from shares in mining companies.

Earlier in the day, the Australian dollar recovered from a wobbly start caused by political uncertainty post-election while Asian shares and base metal prices rose, partly on expectations of economic stimulus from China.

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