The benchmark BSE index edged higher to a record close for a third consecutive session as consumer goods stocks gained, but broader advances were capped by falls in companies that posted weak results such as Reliance Communications and Sun Pharmaceutical Industries.
The BSE index gained 81.07 points or 0.26 per cent to hit a record close of 31,109.28 points.
Meanwhile, the broader NSE index ended up 9.8 points or 0.1 per cent at an all-time closing high of 9,604.90 points, marking a second consecutive record close.
Among BSE sectoral indices, FMCG index was the star-performer and was up 1.55 per cent, followed by auto 0.3 per cent and consumer durables 0.1 per cent. On the other hand, realty index plunged the most by 4.39 per cent, healthcare 2.75 per cent, infrastructure 1.79 per cent and IT 1.27 per cent.
Top five Sensex gainers were HDFC (+3.29%), HUL (+3.07%), Power Grid (+2.76%), Cipla (+2.55%) and ITC (+2.38%), while the major losers were Sun Pharma (-11.56%), Adani Ports (-5.38%), ICICI Bank (-2.16%), State Bank of India (-1.4%) and Infosys (-1.09%).
Healthcare stocks were the biggest drag on the index, after shares of Sun Pharmaceutical Industries Ltd fell as much as 13.2 per cent to a near four-year low after the company on Friday reported a 14 percent fall in March-quarter profit.
The company said its US sales may fall this year on lower drug prices.
Aurobindo Pharma Ltd lost as much as 5.5 per cent, while Lupin Ltd was down as much as 2.9 per cent.
Meanwhile, mobile carrier Reliance Communications slumped as much as 23.5 per cent to a record low of Rs 19.70 after posting its second straight quarterly loss over the weekend because of a price war in the sector.
The company had also delayed repayment of loans to more than 10 banks, according to a media report. Reliance declined to comment.
Meanwhile, construction company PSP Projects Ltd lost as much as 9.5 per cent on a weak debut.
Software services provider Tech Mahindra Ltd hit over 3-1/2 year low after posting a 33 per cent fall in consolidated profit for the March-quarter, missing analysts' estimate.
Power equipment maker CG Power and Industrial Solutions Ltd posted its biggest intraday percent loss in nearly seven months as its March-quarter net loss widened to Rs 444 crore.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 274.14 crore last Friday, as per provisional data.
Asian shares
Overseas, Asian markets were mostly flat after the latest ballistic missile test by North Korea. Key exchanges are closed for public holidays.
US stocks closed mixed last Friday ahead of the Memorial Day holiday weekend