Financials rose after RBI relaxed norms brought in December, which mandated lenders should set aside higher provisions if they bought into alternative investment funds, that, in turn, invested in the lenders' borrowers.

ABB India closed 5.7% higher after UBS raised its price target citing sustainable earnings and growth in its electrification business.

From the Sensex pack, Power Grid, Bharti Airtel, Wipro, HDFC Bank, and Kotak were the top laggards, falling 1-2%. On the other hand, Bajaj Finance, NTPC, L&T, and Axis Bank closed with gains.

The markets saw a significant rally today. The rally was mainly driven by global cues. Sensex closed 540 points higher while Nifty was up 172 points.

TCS emerged as the top Sensex loser and fell 4%. This dip comes after 0.6% of shares changed hands in a block deal. Other IT counters - HCL Tech, Wipro and Infosys - also ended with cuts, weighing on the index.

Indian markets closed in the green on Monday ahead of fed policy decisions due this week. The indices were led by auto, metal, and energy stocks. Sensex surged 105 points & ended at 72,748. While Nifty gained 32 points and closed at 22,055.

Small- and mid-cap stocks declined as stress test results of mutual funds trickled in. Sensex declined 454 points to settle at 72,643. Nifty dropped 123 points to end at 22,023.

The broader, more domestically-focussed small- and mid-caps, rose 3.4% and 1.8%, respectively. However, they logged their worst session in two years on Wednesday and have lost over 12% and 6.5%, respectively, from their record highs on February 8.

Sensex crashed about 1100 points intraday and went below the 73,000 mark while Nifty was under the 22,000 mark today. At the time of closing, Sensex recovered a bit but was still down 906 points. Nifty was down 338 pts. The market capitalisation of all BSE-listed stocks fell by Rs 14 lakh crore to Rs 372 lakh crore.

Among blue-chip stocks, HDFC Bank, TCS, Maruti, Infosys, and Reliance Industries were top gainers, rising to 2.3%. On the other hand, SBI, JSW Steel, ITC, NTPC, and Tata Motors closed in the red.